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Venezuela-linked trust sues foreign oil traders for bribes
Joshua Goodman, Associated Press Updated 9:4
1 am, Friday, March 9, 2018
CARACAS, Venezuela (AP) — A trust linked to Venezuela's state oil company PDVSA has filed a lawsuit against major international energy trading firms for their alleged role funneling bribes to corrupt company officials in exchange for rigged oil purchase contracts.
The civil complaint was unsealed Thursday by a federal judge in Miami and alleges the ongoing scheme cheated the socialist-run company of billions in lost revenue since 2004.
The lawsuit comes as the U.S. expands a criminal investigation into corruption at PDVSA, and the Trump administration threatens crippling oil sanctions on the country sitting atop the world's largest crude reserves.
David Boies, the powerful New York attorney representing PDVSA who is also involved in two other politically charged cases straining relations between the U.S. and Venezuela, said the lawsuit was prompted by the Venezuelan government's determination to show it takes corruption seriously.
More:
https://www.chron.com/news/crime/article/Venezuela-linked-trust-sues-foreign-oil-traders-12740130.php