Venezuela’s Ex-Treasurer Gets 10 Years in U.S. Bribery Case
- Andrade agrees to give up homes, horses, cars, luxury watches
- U.S. details how wealthy Venezuelans moved cash out of country
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A former national treasurer of Venezuela was sentenced in Florida on Tuesday to 10 years in prison for taking more than $1 billion in bribes to help wealthy Venezuelans exploit a rigged exchange system and move money to the U.S. and elsewhere, the U.S. Justice Department said.
Alejandro Andrade Cedeno pleaded guilty in federal court in West Palm Beach, Florida, to taking cash as well as homes, cars, champion horses and luxury watches. Andrade, who admitted to a money-laundering conspiracy and agreed to help prosecutors, agreed to forfeit cash and assets including real estate, horses, vehicles and bank accounts, court records show.