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Enforcement Action Dataset

 

Initiation Date:    12/18/2017  Information

Prosecuting Agency:    US Department of Justice

Name of Prosecuting Attorneys:   

  • Sandra L. Moser, Acting Chief, Fraud Section, Criminal Division
  • Vanessa Snyder, Trial Attorney, Fraud Section, Criminal Division
  • Paul A. Hayden, Trial Attorney, Fraud Section, Criminal Division
  • Michael B. Nadler, Assistant United States Attorney
  • Nalina Sombuntham, Assistant United States Attorney

Assisting Agencies:    Federal Bureau of Investigation , U.S. Department of Homeland Security , Spanish Policia Nacional , U.S. Federal Deposit Insurance Corporation

Type of Action:    DOJ Criminal Proceeding

Docket or Case Number:    17-cr-80242

Court:    S.D. Florida

Origin of the Proceeding:    Unknown

Whistleblower:    Unknown

Case Status:    Resolved


Summary  Information

Alejandro Andrade Cedeno ("Andrade"), a Venezuelan citizen who maintained a residence in Florida, was the Venezuelan National Treasurer from 2007 through January 2011.

According to the documents in this case, between 2007 and 2017, Andrade agreed to accept bribes from co-conspirators, including Raul Gorrin Belisario, who was charged separately, in exchange for selecting them to carry out the U.S. dollar to bolivar exchange process with the Venezualan National Treasury. When Andrade requested, the conspirators would transfer money to bank accounts controlled by Andrade, and in some instances, the conspirators purchased real estate, vehicles, aircraft, horses, and high-end watches for Andrade. In all, the three co-conspirators told Andrade that they held Venezuelan bonds and other assets valued at approximately $1 billion in U.S. currency during this time period for Andrade's benefit.

On December 18, 2017, the DOJ filed a sealed single count information in the Southern District of Florida against Andrade alleging money laundering violations. On December 22, 2017, Andrade entered into a plea agreement, under which he agreed to plead guilty to the money laundering charge and agreed to a factual proffer which outlined the extent of the money laundering scheme. On November 6, 2018, the court entered a preliminary order of forfeiture against Andrade which ordered him to forfeit $1 billion. The case was unsealed on November 20, 2018, and on November 27, 2018, the court sentenced Andrade to 10 years in prison to be followed by one year of supervised release. The court also ordered Andrade to pay a $100 mandatory special assessment.

Country(ies) involved:    Venezuela

Region(s) involved:    Latin America

Total $ Sanctions Imposed by U.S. Government (FCPA-Related Charges Only):    $1,000,000,100

Sanction to Bribe Ratio:    $1,000,000,100 / $1,000,000,000 = 100.00 %

Sanction to Revenue Ratio:    Not Applicable

Sanction to Profit Ratio:    Not Applicable

FCPA Matter Name:   Gorrin's Involvement in Venezuela between 2008 and 2017 Information

Number of Related Enforcement Actions (Including This Enforcement Action):    3

Country(ies) involved:    Venezuela

Region(s) involved:    Latin America

Total $ Bribery Payments:    $1,000,000,000

Total $ Revenue Generated from Bribery:    Unknown

Total $ Profit Earned or Expenses Avoided from Bribery:    Unknown

Total $ Sanctions Imposed by U.S. Government (FCPA-Related Charges Only):    $1,038,000,200

Sanction to Bribe Ratio:    $1,038,000,200 / $1,000,000,000 = (103.80 %)

Sanction to Revenue Ratio:    Not Applicable

Sanction to Profit Ratio:    Not Applicable

Name:    Alejandro Andrade Cedeno

Employers & Positions:    - Former National Treasurer of Venezuela

Country:    Venezuela, United States

FCPA Claims:    None

Related Claims:    Money Laundering (18 U.S.C. § 1956) ; Criminal Forfeiture (18 U.S.C. § 982)

Statutory Basis for FCPA Jurisdiction:    Not Applicable

Period of Bribery:   2007 - 2017

Total Bribery Payments:    $1,000,000,000

Total Revenue Generated from Bribery:    Unknown

Total Profit Earned or Expenses Avoided from Bribery:    Unknown

Country(ies) involved:    Venezuela

Region(s) involved:    Latin America

Officials Potentially Influenced (Name; Title; Organization): 

  • Alejandro Andrade Cedeno; Former National Treasurer; Venezuelan National Treasury

Affiliates, Subsidiaries and Joint Ventures Involved in the Misconduct:    None/Unknown

Third-Party Intermediary:    None/Unknown

Type of Bribe:   Money, Land/Real Estate, Jewelry/Various Luxury Items, Automobile/Vehicle, Jet, Horses

Cash, Wire or Check:    Wire Transfer

Purpose of Bribe:    Obtain/retain business

TRANSACTION OVERVIEW
Bribes paid to and held for Alejandro Andrade Cedeno

Period of Bribery:   2007 – 2017

Total Bribery Payments:    $1,000,000,000

Total Revenue Generated from Bribery:    Unknown

Total Profit Earned or Expenses Avoided from Bribery:    Unknown

Country(ies) involved:    Venezuela

Region(s) involved:    Latin America

Officials Potentially Influenced (Name; Title; Organization):  

  • Alejandro Andrade Cedeno; Former National Treasurer; Venezuelan National Treasury;

Affiliates, Subsidiaries and Joint Ventures Involved in the Misconduct:    None/Unknown

Third Party Intermediary:    None/Unknown

Type of Bribe:   Money, Land/Real Estate, Jewelry/Various Luxury Items, Automobile/Vehicle, Jet, Horses

Cash, Wire or Check:    Wire Transfer

Purpose of Bribe:    Obtain/retain business

Not Applicable

Mitigating Factors Referenced by the Government (Individual Defendants):

Defendant Cooperation
Alejandro Andrade Cedeno  

Aggravating Factors Referenced by the Government (Individual Defendants):

Defendant Insufficient Cooperation
Alejandro Andrade Cedeno  

Total Global Monetary Sanctions (All Charges):    $1,000,000,100

Total Monetary Sanctions Imposed by U.S. Government (FCPA-Related Charges Only):    $1,000,000,100

Total Monetary Sanctions Owed to U.S. Government (FCPA-Related Charges Only):    $1,000,000,100

Case Status:    Resolved


Disposition:    Plea Agreement

Date of Disposition:    01/04/2018

Alejandro Andrade Cedeno

—  Total Monetary Sanctions Imposed by U.S. Government for Defendant (FCPA-Related Charges Only):    $1,000,000,100

—  Imprisonment/Incarceration:    120 months

—  Probation/Supervised Release:    12 months

—  House Arrest:    None

—  Community Service:    None

—  Admission of Guilt/Acceptance of Responsibility:    Yes

No Document Title Date Category