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 | Enforcement Action Dataset

Stanford Foreign Corrupt Practices Act Clearinghouse a Collaboration with Sullivan & Cromwell LLP

Enforcement Action Dataset

 
United States of America v. Ralph Steinmann and Luis Fernando Vuteff · Multiple Parties' Involvement in Venezuela between 2011 and 2020

Case Information

United States of America v. Ralph Steinmann and Luis Fernando Vuteff

Related FCPA Matter:   Multiple Parties' Involvement in Venezuela between 2011 and 2020 Information

Case Information

Initiation Date:    06/12/2022  Information

Prosecuting Agency:    U.S. Department of Justice

Type of Action:    DOJ Criminal Proceeding

Docket or Case Number:    22-cr-20306

Court:    S.D. Florida

Name of Prosecuting Attorneys:   

  • Juan Antonio Gonzalez, United States Attorney
  • Kurt K. Lunkenheimer, Assistant United States Attorney
  • Lorinda I. Laryea, Acting Chief, Fraud Section, Criminal Division
  • Paul A. Hayden, Trial Attorney, Fraud Section, Criminal Division

US Assisting Agencies:   

  • U.S. Department of Homeland Security

Foreign Enforcement Action/Investigation:    Unknown

Foreign Assistance:   

  • Swiss Law Enforcement Agency (CH)

Origin of the Proceeding:    Unknown

Whistleblower:    Unknown

Case Status:    Ongoing


Summary  Information

Ralph Steinmann was a Swiss national who operated an unnamed European financial institution and was also affiliated with an unnamed Spanish company.

Luis Fernando Vuteff was an Argentinian national who was employed by Steinmann at the European financial institution and who was also affiliated with Spanish company.

According to the documents in this case, between about December 2014 and August 2018, Steinmann and Vuteff conspired with others to launder the proceeds of a corrupt foreign currency exchange scheme involving bribery of Venezuelan officials. Steinmann, Vuteff, and others allegedly discussed and agreed to create the sophisticated financial mechanisms and relationships required to launder more than $200 million related to the scheme as well as open accounts for or on behalf of at least two Venezuelan public officials to receive their bribe payments related to the scheme.

On July 12, 2022, the DOJ filed a single count indictment in the Southern District of Florida against Steinmann and Vuteff alleging a conspiracy to commit money laundering.

Vuteff was arraigned and pled not guilty on December 18, 2023, but on May 1, 2024, the DOJ filed a superseding information against Vuteff in connection with a plea agreement entered into by the parties on May 14. On November 21, 2024, the DOJ moved for forfeiture in the amount of $4,124,722, which the court granted the same day.

On December 17, 2024, the court sentenced Vuteff to 30 months in prison to be followed by two years of supervised release and ordered him to pay a mandatory assessment of $100 in addition to the forfeiture already ordered.

The case against Steinmann is ongoing.

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