Texas Businessman Sentenced to 70 Months in Prison for Role in Venezuela Bribery Scheme and Obstruction of Justice

Details

Written by Department of Justice

Category: News

Published: 24 February 2020

Houston, Texas - A former procurement officer of Venezuela’s state-owned and state-controlled energy company, Petroleos de Venezuela S.A. (PDVSA), was sentenced to 70 months in prison followed by three years of supervised release today for laundering the proceeds of a corrupt scheme to secure contracts from PDVSA through bribery, underreporting income on his tax return and obstructing the government’s investigation into bribes paid by the owner of U.S.-based companies to Venezuelan government officials in exchange for securing additional business with Citgo Petroleum Corporation, a Houston-based PDVSA subsidiary. 

Read more ...

U.S. Trustee Program Ready to Implement the Small Business Reorganization Act of 2019

Details

Written by IVN

Category: News

Published: 24 February 2020

Washington, DC - The Department of Justice’s U.S. Trustee Program (USTP) is fully prepared to implement the Small Business Reorganization Act of 2019 (SBRA), which goes into effect today.  The SBRA was passed by Congress and signed into law by President Trump last August.

Read more ...

Justice Department Requires Divestiture in Order for Liqui-Box to Proceed With Acquisition of Plastics Division of DS Smith

Details

Written by DOJ

Category: News

Published: 24 February 2020

Washington, DC - The Department of Justice announced Wednesday that it is requiring Olympus Growth Fund VI L.P. (Olympus Fund VI), its portfolio company Liqui-Box Inc. (Liqui-Box), and DS Smith plc (DS Smith) to divest all of DS Smith’s dairy, post-mix, smoothie, and wine bag-in-box (BiB) product lines in the United States in order for Liqui-Box to proceed with its proposed acquisition of the Plastics Division of DS Smith. Without the divestiture, the proposed acquisition would eliminate competition between two of the primary suppliers of dairy, post-mix, smoothie, and wine BiBs in the United States.

Read more ...

Former U.S. Taxpayer Pleads Guilty in Panama Papers Investigation

Details

Written by IVN

Category: News

Published: 23 February 2020

Washington, DC - A former U.S. resident and taxpayer who was charged along with three others in connection with a decades-long criminal scheme perpetrated by Mossack Fonseca & Co. (Mossack Fonseca), a Panamanian-based global law firm, and its related entities, pleaded guilty Tuesday to wire and tax fraud, money laundering, false statements and other charges.

Read more ...