The St Kitts Nevis Observer
The Ecuadorean flag
MIAMI (AP) A former representative for commodities giant Gunvor pleaded guilty Tuesday to helping channel more than $22 million in bribes to high-level officials in Ecuador in exchange for lucrative contracts with the state-run oil company.
As part of his plea deal in Brooklyn federal court, Raymond Kohut agreed to forfeit $2.2 million in proceeds from the bribery scheme, which he said ran from at least 2012 to August 2020.
Kohut faces up to 20 years in prison. The 68-year-old Canadian citizen primarily resides in Panama and the Bahamas. He entered his guilty plea from Long Island, New York.
Oil trader admits to role in major Ecuador bribery scheme
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Oil trader admits to role in major Ecuador bribery scheme
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Oil trader admits to role in major Ecuador bribery scheme
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Oil trader admits to role in major Ecuador bribery scheme
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