Ex-Gunvor Employee Pleads Guilty to Foreign Bribery Scheme
- Kohut admits to plot to pay more than $22 million in bribes
- Ex-trader faces two decades in prison for illegal payments
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An ex-Gunvor Group Ltd employee admitted paying more than $22 million in bribes to government officials in Ecuador to win business from state-owned oil company Petroecuador.
Raymond Kohut, 68, told a U.S. judge on Tuesday that he and his bosses conspired to pay the bribes from 2012 to 2020.