What Kry is dealing with?
in response to
by
posted on
Nov 05, 2010 04:00AM
Crystallex International Corporation is a Canadian-based gold company with a successful record of developing and operating gold mines in Venezuela and elsewhere in South America
I know most people don't want to admit it but this might be the biggest reason we haven't been able to get the permit. Kry has tried to things legally in a country where bribery is a way of life!
Here are just a couple examples of those who were caught and charged.
Here is a reacent case.
WASHINGTON: Six US companies have agreed to pay a criminal penalty of more than USD 156 million on charges of paying bribes to foreign countries, including India.
According to documents filed at a district court in Texas Pride International Inc and Pride Forasol SAS (both known as 'Pride'), admitted that it paid a total of approximately USD 800,000 in bribes to government officials in Venezuela, India and Mexico.
Bribes were paid to extend drilling contracts for three rigs operating offshore in Venezuela, to secure favourable administrative judicial decision relating to a customs dispute for a rig imported into India and to avoid the payment of customs duties and penalties relating to a rig and equipment operating in Mexico, the documents revealed.
More on the case.
The federal government is suing a former U.S. oil executive and settled another case with a drilling company, both over alleged bribes involving lucrative oil contracts in Venezuela.
The Securities and Exchange Commission accuses Bobby Benton of concealing $384,000 in payments to Venezuelan oil officials to secure extensions of three drilling contracts from 2003-05 when he was a vice president for Houston-based Pride International Inc.
Another case.
Venezuelan bribery stars in trial over suitcase of cash
4 Oct 2008 ... Venezuelan bribery stars in trial over suitcase of cash ... a mysterious suitcase filled with $800000 sent from Venezuela to Argentina, ...
www.latinamericanstudies.org/venezuela/bribery.
Another one from December 2008
IDG News Service — German electronics firm Siemens AG and three of its subsidiaries have pleaded guilty to charges related to the U.S. Foreign Corrupt Practices Act (FCPA), for a range of activity, including attempted bribery of government officials.
Siemens Venezuela made about $18.8 million in bribery payments to Venezuelan officials between November 2001 and May 2007, the agencies said.