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Energy Company Owner Pleads Guilty in Venezuela Bribery Case
Source: Associated Press
Energy Company Owner Pleads Guilty in Venezuela Bribery Case
By MICHAEL GRACZYK, ASSOCIATED PRESS HOUSTON — Jun 16, 2016, 5:25 PM ET
The owner of several U.S. energy companies pleaded guilty Thursday to bribery and tax charges in what federal authorities say was a scheme to secure millions of dollars in contracts from Venezuela's state-owned energy company.
U.S. District Judge Gray Miller set a Sept. 30 sentencing for Roberto Enrique Rincon Fernandez, of The Woodlands. He faces up to five years in prison on the bribery counts and three years on the tax charge. The judge would decide whether the sentences would run concurrently.
Rincon, 55, is the sixth person to plead guilty to charges related to the bribery scheme in which officials responsible for procurement at Venezuela's state-owned oil company, PDVSA, were wined and dined and treated to expensive hotel stays and other extravagances.
All six have agreed to forfeit proceeds from their criminal activity.
Rincon pleaded guilty to one count each of conspiracy to violate the Foreign Corrupt Practices Act, violating the act and making false statements on his 2010 federal income tax return. In his plea agreement, Rincon admitted that he willfully failed to report on his 2010 tax return more than $6 million in foreign dividend income from a Venezuelan corporation he owned, according to Houston-based U.S. Attorney Kenneth Magidson.
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By MICHAEL GRACZYK, ASSOCIATED PRESS HOUSTON — Jun 16, 2016, 5:25 PM ET
The owner of several U.S. energy companies pleaded guilty Thursday to bribery and tax charges in what federal authorities say was a scheme to secure millions of dollars in contracts from Venezuela's state-owned energy company.
U.S. District Judge Gray Miller set a Sept. 30 sentencing for Roberto Enrique Rincon Fernandez, of The Woodlands. He faces up to five years in prison on the bribery counts and three years on the tax charge. The judge would decide whether the sentences would run concurrently.
Rincon, 55, is the sixth person to plead guilty to charges related to the bribery scheme in which officials responsible for procurement at Venezuela's state-owned oil company, PDVSA, were wined and dined and treated to expensive hotel stays and other extravagances.
All six have agreed to forfeit proceeds from their criminal activity.
Rincon pleaded guilty to one count each of conspiracy to violate the Foreign Corrupt Practices Act, violating the act and making false statements on his 2010 federal income tax return. In his plea agreement, Rincon admitted that he willfully failed to report on his 2010 tax return more than $6 million in foreign dividend income from a Venezuelan corporation he owned, according to Houston-based U.S. Attorney Kenneth Magidson.
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Read more: http://abcnews.go.com/International/wireStory/energy-company-owner-pleads-guilty-venezuela-bribery-case-39914064
