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FROM A
DIFFERENT ANGLE by Kenneth Rijock
DIFFERENT ANGLE by Kenneth Rijock
Financial Crime Consultant, for World-Check
Guilty Plea in FCPA case involving Panamanian Officials
14 November 2009
A Vice President of a Virginia Engineering company has pled guilty* to conspiring to pay bribes to Panamanian government officials from an agency charged with maintaining that nation's waterways, and making false statements to the US Government. The object of the conspiracy was to obtain a lucrative government contract for the defendant's company. More than $200,000 was illegally paid to Panamanian officials, including a high-ranking elected executive official of the Republic of Panama.
A so-called "dividend check" paid to an official, falsely stated to be a contribution to his re-election campaign, was in truth and in fact a corrupt payment to obtain a contract.
The charges each carry a maximum penalty of five years in prison, and a fine of the greater of $250,000, of twice the gross gain or loss from the scheme.
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* United States vs. Jumet, Case No.: 09-CR-397-HEH (ED VA).
The charges each carry a maximum penalty of five years in prison, and a fine of the greater of $250,000, of twice the gross gain or loss from the scheme.
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* United States vs. Jumet, Case No.: 09-CR-397-HEH (ED VA).
The facts and opinions stated in this article are those of the author and not those of World-Check. World-Check does not warrant the accuracy of any facts and opinions stated in this article, does not endorse them, and accepts no responsibility for them.
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