Ex-Guatemalan President Admits To $2.5M Bribery Scheme

Law360, New York (March 18, 2014, 6:02 PM EDT) -- A former Guatemalan president pled guilty Thursday in New York federal court to accepting $2.5 million in bribes from the government of Taiwan in exchange for recognizing the country diplomatically and to laundering the funds through U.S. bank accounts.

Alfonso Portillo, who served as Guatemala’s president from January 2000 to January 2004, pled guilty to one count of money laundering conspiracy before U.S. District Judge Robert P. Patterson. He admitted that he received five checks from the Taiwan government’s embassy in Guatemala between 1999 and 2002...
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