A New York jury found former Vitol commodities trader, Javier Aguilar, guilty of charges related to bribing officials at state oil companies in Ecuador and Mexico. Aguilar’s charges included violation of the Foreign Corrupt Practices Act (FCPA) and conspiring to launder money. While working for Vitol, prosecutors alleged that Aguilar paid bribes to officials in Ecuador to secure a contract to buy roughly $300 million in fuel oil from a state-owned company. Aguilar was also involved in a money laundering and bribery scheme with officials at Mexico’s state-owned oil company, which helped Vitol win contracts worth hundreds of millions of dollars. He could potentially face up to 30 years in prison.
Ex-Vitol Trader Found Guilty in Bribery Schemes
