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.