Ex-Vitol Oil Trader Indicted in U.S. Probe of Ecuador Bribes
- Case is part of broad investigation of graft in South America
- Florida asphalt maker pleaded guilty to payoffs in 3 countries
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A former manager at Vitol Group, the world’s largest independent oil-trading firm, was indicted for allegedly bribing Ecuadorian government officials to get business for his firm with state-owned Petroecuador.
The case, part of a broad U.S. probe into bribes paid to South American officials, is the latest to sweep up the oil-trading giant. Last year, a former Petroleo Brasileiro SA oil trader who went by the code name “Phil Collins” told a Brazilian judge he received bribes from Vitol to favor the company in contracts.