Current:Home > InvestFeds charge former oil trader in international bribery scheme involving Mexican officials-DB Wealth Institute B2 Reviews & Ratings
Feds charge former oil trader in international bribery scheme involving Mexican officials
lotradecoin featureset View Date:2024-12-26 04:57:40
A former oil trader for a U.S. affiliate of one of the world’s largest energy trading firms was charged in connection with an international bribery scheme, federal authorities announced Monday.
Javier Aguilar of Texas has been charged under the U.S. Foreign Corrupt Practices Act for paying bribes to officials of Petróleos Mexicanos, or PEMEX, a state-owned oil company of Mexico, and its subsidiary, PPI, to get business for Vitol Inc., federal prosecutors said.
Aguilar is appearing in federal court three years after Vitol settled a related investigation for more than $135 million, officials announced Monday.
Between 2017 and 2020, Aguilar paid bribes to Mexican officials for information to help Vitol win the company’s business, the U.S. Attorney's Office said. In one instance, Aguilar allegedly paid about $600,000 in bribes for a contract to supply ethane to PEMEX through PPI.
To conceal the bribery scheme, Aguilar, along with other co-conspirators sent bribe payments to domestic and offshore bank accounts through shell companies and intermediaries, the indictment says. The companies also used nonbusiness email accounts, encrypted messaging platforms and code names to communicate about the scheme, prosecutors allege.
Aguilar was scheduled to make his first appearance in Houston Monday.
Aguilar is also facing charges in New York Eastern District Court for bribes he allegedly paid in Ecuador to get business for Vitol. A federal grand jury returned the indictment in Sept. 2020, and the case is ongoing.
Vitol Inc. settled related bribery case in 2020
In 2020, Vitol agreed to pay more than $135 million to resolve an investigation by the U.S. Department of Justice and parallel investigation in Brazil, officials previously announced.
The company was accused of paying millions in bribes to Brazil, Ecuador, and Mexico between 2005 and 2020. In exchange, the company received confidential information on pricing, competitors and more. Aguilar was described as part of the bribe scheme in court documents.
Vitol also agreed to pay a $16 million penalty to the Commodity Futures Trading Commission in a "related matter", and “disgorge” more than $12.7 million, officials said.
“Vitol is committed to upholding the law and does not tolerate corruption or illegal business practices. As recognised by the authorities, Vitol has cooperated extensively throughout this process. We understand the seriousness of this matter and are pleased it has been resolved. We will continue to enhance our procedures and controls in line with best practice,” Vitol CEO Russell Hardy previously said in a statement regarding the 2020 settlement.
veryGood! (3249)
Related
- Pro-Palestinian protesters who blocked road near Sea-Tac Airport to have charges dropped
- MLB moves start of Tigers-Guardians decisive ALDS Game 5 from night to day
- Singer El Taiger Dead at 37 One Week After Being Found With Gunshot Wound to the Head
- A woman fired a gun after crashing her car and was fatally shot by police
- American Supercar: A first look at the 1,064-HP 2025 Chevrolet Corvette ZR1
- Appeals court revives lawsuit in fight between 2 tribes over Alabama casino
- Floridians evacuated for Hurricane Milton after wake-up call from devastating Helene
- Tap to pay, Zelle and Venmo may not be as secure as you think, Consumer Reports warns
- 2025 COLA estimate dips with inflation, but high daily expenses still burn seniors
- Transit systems are targeting fare evaders to win back riders leery about crime
Ranking
- American Supercar: A first look at the 1,064-HP 2025 Chevrolet Corvette ZR1
- Christina Hall's Ex Josh Hall Trying to Block Sale of $4.5 Million Home
- Arkansas dad shoots, kills man found with his missing 14-year-old daughter, authorities say
- Top Celebrity Halloween Costume of 2024 Revealed
- Usher concert postponed hours before tour opener in Atlanta
- What’s behind the northern lights that dazzled the sky farther south than normal
- As 49ers' elevating force, George Kittle feels 'urgency' to capitalize on Super Bowl window
- Kentucky woman is arrested after police find human remains in her mom’s oven and a body in the yard
Recommendation
-
'Love Island UK' stars Molly-Mae Hague, Tommy Fury announce split after 5 years
-
We Found Lululemon Under $99 Finds Including $49 Align Leggings, $29 Bodysuits & More Trendy Essentials
-
If you let your flood insurance lapse and then got hit by Helene, you may be able to renew it
-
US Justice Department says Virginia is illegally striking voters off the rolls in new lawsuit
-
Family of man killed by Connecticut police officer files lawsuit, seeks federal probe of department
-
Documents show OpenAI’s long journey from nonprofit to $157B valued company
-
Tampa Bay Times keeps publishing despite a Milton crane collapse cutting off access to newsroom
-
Determination to rebuild follows Florida’s hurricanes with acceptance that storms will come again