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Stiffed By Co-Conspirators, Individual Cooperates With Government And The End Result Is Yet Another FCPA Enforcement Action Concerning Conduct In Venezuela

corpoelec

Earlier this week, the DOJ announced yet another Foreign Corrupt Practices Act and related enforcement action concerning conduct in Venezuela.

Jesus Ramon Veroes and Luis Alberto Chacin Haddad were each charged and plead guilty to conspiracy to violate the FCPA’s anti-bribery provisions in connection with obtaining various contracts with Corporacion Electric Nacional S.A. (Corpoelec), Venezuela’s state-owned electric company.

In the resolution documents, Veroes is described as a Venezuelan citizen whose close relative is the President of NV Oriental Trading Corporation (a company based in Doral, Florida) and Chacin is described as a Venezuelan citizen and resident of the U.S. who owns and manages businesses in Miami including Search Trading LLC and Headline LLC (companies that purchase goods from around the world for export to Central and South America).

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