A former executive at Venezuela’s state-owned oil company has pleaded guilty in a currency exchange scheme targeting the state-run oil company, the latest in the unfolding investigation of an alleged $1.2 billion fraud that cleaned funds through South Florida real estate.

Abraham Edgardo Ortega pleaded guilty Wednesday to money laundering conspiracy before U.S. District Judge Kathleen Williams in Miami. Ortega, a Venezuelan national who is free on bond, faces sentencing Jan. 9.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]