Prosecutor Tareck William Saab confirmed that six former Citgo executives were sentenced to more than 8 years in prison and disqualification from holding public office, after being accused of various crimes against public property.
In his Twitter account, the official said that the case against those indicted is based on the fact that “the Citgo Board of Directors during 2017, made irregular agreements with the Frontier Management Group and Apolo Global Management companies, through which it was intended to refinance its debt for the years 2014-2015 in unfavorable conditions for Venezuela”.
According to the head of the Public Ministry, these conditions included penalties for millions of dollars if the refinancing was not done with the aforementioned companies.
He insisted that the former managers of the Venezuelan oil refiner in the United States were tried “with all procedural guarantees.”
The condemned are José Pereira, former president of Citgo, who was accused of Fraudulent Embezzlement on his Own, Concert with Contractor and Association to commit a crime; Tomeu Badel, former Vice President of Refining; Alirio Zambrano, former vice president of the company; Jorge Toledo, former Vice President of Supplies, Gustavo Cárdenas, former Vice President of Strategic Relations; and José Zambrano, former Vice President of Services.
“All were sentenced to 8 years and 10 months in prison, and the disqualification from holding public office, for the crimes of Concert with Contractor and Association to commit a crime, respectively,” says Saab.
Prosecutor Saab proclaimed that “the fight that the Public Ministry undertook against oil corruption whose perpetrators are stateless persons who criminally arranged with briefcase ‘businessmen’ has achieved the sanction of more than 100 former managers who tarnished the national honor.”
Tarek William Saab
@TarekWiliamSaab
1) #CITGO: During 2017, the Citgo Board of Directors entered into irregular agreements with the companies Frontier Management Group and Apolo Global Management, through which it was intended to refinance its debt for the years 2014-2015 in unfavorable conditions for #VENEZUELA
3:37 p. m. Dec 8. 2020
