Thursday, December 23, 2010

Former Execs of Miami-based Company Indicted on FCPA Violation Charges

Jorge Granados, 54, and Manuel Caceres, 64, the former CEO and the VP of business development, respectively, for Miami-based telecommunications company, Latin Node Inc., have been indicted on 19 counts of criminal violations of the anti-bribery provisions of the Foreign Corrupt Practices Act (FCPA), and international money laundering. According to prosecutors, Granados and Caceres allegedly payed more than $500,000 in bribes to government officials in Honduras for favorable contract terms involving Empresa HondureƱa de Telecomunicaciones (Hondutel). The bribes were reportedly paid between September 2006 and June 2007 to a key Hondutel manager, as well as to a senior attorney for Hondutel who acted as the manager’s “straw man,” and to a minister of the Honduran government who became a representative on the Hondutel Board of Directors. Latin Node had previously plead guilty to a one-count information charging the company with a criminal violation of the FCPA and agreed to pay a $2 million fine.

Read the story here and here.

Read the DOJ announcement here.

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