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French, Russian firms entangled in multi-million dollar fraud in Venezuela

The case stemmed from cash-strapped PDVSA's chronic delays in paying dividends to foreign firms

Reuters  |  Washington 

Anglo-French oil company Perenco and Russian financial firm Gazprombank have been identified in testimony by a former Venezuelan state oil company official who said he received millions of dollars in bribes in return for giving them preferential treatment, a source with knowledge of the matter said on Thursday. Abraham Ortega, a former financial executive at state oil company PDVSA, accepted $5 million in bribes to favour a French oil company and from a Russian bank, US prosecutors in Florida said on Wednesday in a statement, which did not name either company. Ortega received $3 ...

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First Published: Fri, November 02 2018. 06:12 IST
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