March 2016, Vol. 243, No. 3

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5 Plead Guilty to Bribery Scheme with Venezuelan Oil Company

HOUSTON (AP) — A Venezuelan national living in Florida and four other people have pleaded guilty to federal charges for a bribery scheme involving millions of dollars in contracts between U.S.-based energy firms and Venezuela’s state-run oil company, prosecutors said Wednesday. Officials responsible for procurement at the company, known by its initials PDVSA, were wined, dined and treated to swanky hotel stays and a home mortgage in Texas was even paid off, according to court documents. The case is being closely watched in Venezuela, where the opposition accuses the governing socialists of looting PDVSA and bankrupting the nation. Venezuela has the world’s largest proven oil re

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