Abraham Edgardo Ortega is one of nine people charged in the laundering scheme. (Getty, Department of Justice)
A former executive with Venezuela’s state-run oil company was sentenced to two years and four months in prison in connection with an alleged $1.2 billion money laundering scheme linked to South Florida real estate.
Abraham Edgardo Ortega, who was executive director of financial planning at PDVSA, admitted he accepted more than $12 million in bribes for his role, which allowed other Venezuelans who were charged to embezzle from the company, the Miami Herald reported.
Prosecutors allege “kleptocrats” made loans to the oil company that made them wealthy overnight, in part through Venezuela’s unique currency exchange system.
Domenic Gatto and Banyan Cay Resort and Club (Linkedin, iStock, Banyan Cay)
The developer of Banyan Cay Resort and Club in West Palm Beach was charged in connection with a $65 million national healthcare fraud.
Whether this spells trouble for the mega-project remains unclear.
Domenic Gatto faces one count of conspiracy to commit healthcare fraud in connection to an alleged scheme to place unnecessary orders for orthotic braces for Medicare beneficiaries, The Palm Beach Post reported.
Gatto, who was one of five charged, has surrendered. But he entered no plea and has not been formally indicted. The 46-year-old Palm Beach Gardens resident appeared in front of a federal magistrate in New Jersey via video from the West Palm Beach federal courthouse.