Oil Traders Get Prison Stints For Lyondell Kickback Scheme

Law360, New York (April 27, 2012, 8:47 PM EDT) -- Two international oil traders on Friday were sentenced to four and five years in prison, respectively, and ordered to pay $57 million in restitution as a result of their involvement in the multimillion-dollar LyondellBasell Industries NV kickback scheme involving Venezuelan oil shipping contracts.

Bernard Langley, 55, of the United Kingdom, was ordered by U.S. District Judge Sim Lake to spend four years in prison, while Clyde Meltzer, 65, of Livingston, N.J., and Houston, was given a five-year sentence, according to the U.S. attorney’s office in the...
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