Spanish phone company subsidiary to pay $85M to resolve US probe of Venezuelan bribery scheme
A Venezuelan subsidiary of a Spanish phone company will pay more than $85 million to resolve a U.S. Justice Department investigation into a scheme to bribe Venezuelan government officials
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.A Venezuelan subsidiary of a Spanish phone company will pay more than $85 million to resolve a U.S. Justice Department investigation into a scheme to bribe Venezuelan government officials, the department said Friday.
Telefónica Venezolana, a subsidiary of Telefónica S.A., bribed Venezuelan officials to participate in an auction that allowed it to get U.S. dollars in exchange for Venezuelan bolivars, Justice Department officials said.
Telefónica Venezolana bought equipment at inflated prices from suppliers, who then paid the bribes on its behalf in an attempt to hide the illegal scheme, prosecutors said.
“Telefónica Venezolana chose to support a corrupt regime to circumvent the difficulties of conducting legal business in Venezuela," said Principal Deputy Assistant Attorney General Nicole Argentieri, who leads the Justice Department’s Criminal Division.
The subsidiary is charged in U.S. federal court with conspiracy to violate the Foreign Corrupt Practices Act but will avoid prosecution under an agreement with the Justice Department if it follows certain conditions.
Telefónica S.A. officials did not immediately respond to an email seeking comment Friday.