US lawsuit: Venezuela cheated of billions by rigged oil bids
March 9, 2018
CARACAS, Venezuela (AP) — A trust linked to Venezuelan state oil company PDVSA has filed a lawsuit against Glencore, Lukoil and other energy trading firms for their alleged role funneling bribes to corrupt company officials in exchange for rigged oil purchase and sale contracts.
The civil complaint was unsealed Thursday by a federal judge in Miami and alleges the ongoing scheme cheated the socialist-run company of billions in lost revenue since 2004.
The lawsuit comes as the U.S. expands its own criminal investigation into corruption at PDVSA. At least $11 billion is believed to have gone...
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