Commodities Trading Company Will Pay Over $661M to Resolve Foreign Bribery Case
US Department of Justice
Gunvor S.A. (Gunvor), an international commodities trading company based in Switzerland, has pleaded guilty and will pay over $661 million to resolve an investigation by the U.S. Justice Department into violations of the Foreign Corrupt Practices Act (FCPA).
Gunvor’s guilty plea stemmed from the company’s corrupt scheme to pay substantial bribes to Ecuadorean government officials to secure business with Ecuador’s state-owned and state-controlled oil company, Petroecuador.
Financial sanctions update: Russia & ISIL (Da’esh) and Al-Qaida
2 entries have been corrected on the consolidated list under the Russia and ISIL (Da'esh) and Al-Qaida financial sanctions regimes and remain subject to an asset freeze.
The following entry has been corrected under the Russia financial sanctions regime and remains subject to an asset freeze and trusts services sanctions:
Vladimir Vladimirovich Mikheychik (Group ID: 16409)
53 members of a criminal organisation arrested for sports corruption in Spain
Europol supported the Spanish National Police (Policía Nacional) in an investigation that led to the arrest of 53 suspects in Madrid and Guadalajara, in Spain. The suspects acted as “betting mules” for a criminal organisation fixing sports events and defrauding betting houses. The operation took place from 29 January to 1 February and was also supported by Interpol and the Spanish Tax Agency (Agencia Tributaria).