DOJ Puts Companies With Venezuelan Ties In Its Crosshairs
Law360, New York (March 7, 2016, 9:19 AM EST) -- Nick Berg
Martin De Luca
The U.S. Department of Justice is increasingly focused on investigating criminal matters involving Venezuela. The DOJ’s scrutiny centers on allegations of widespread corruption, money laundering and narcotics trafficking by Venezuelan government officials.
Late in 2015, the DOJ brought a case against U.S.-based companies for bribing procurement officials at the Venezuelan national oil company, Petroleos de Venezuela SA (“PDVSA”), in exchange for lucrative contracts. The year before, the DOJ prosecuted a New York broker-dealer for bribing an official responsible for overseas trading at Banco de Desarollo Económico y Social de Venezuela (“BANDES”), the Venezuelan economic...
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