Former banker pleads guilty in U.S. to role in laundering embezzled PDVSA funds

(Reuters) - A former executive with Swiss bank Julius Baer pleaded guilty on Wednesday for his role in a billion-dollar scheme to launder money embezzled from the Venezuelan state-owned oil company PDVSA, the U.S. Justice Department said. Matthias Krull, 44, a German national who is a former Julius Baer Panama vice chairman, pleaded guilty to one count of conspiracy to commit money laundering, the department said in a statement

Reuters August 23, 2018 02:05:10 IST
Former banker pleads guilty in U.S. to role in laundering embezzled PDVSA funds

Former banker pleads guilty in US to role in laundering embezzled PDVSA funds

(Reuters) - A former executive with Swiss bank Julius Baer pleaded guilty on Wednesday for his role in a billion-dollar scheme to launder money embezzled from the Venezuelan state-owned oil company PDVSA, the U.S. Justice Department said.

Matthias Krull, 44, a German national who is a former Julius Baer Panama vice chairman, pleaded guilty to one count of conspiracy to commit money laundering, the department said in a statement.

(Reporting by Eric Beech in Washington)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date:

TAGS:

Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.

also read

Serbian leader fires back at Moscow after 'Basic Instinct' jibe
World

Serbian leader fires back at Moscow after 'Basic Instinct' jibe

MOSCOW/BELGRADE (Reuters) - Serbia's president accused Moscow on Sunday of stooping to "primitivism and vulgarity" in an attack on him, after Russia's foreign ministry spokeswoman compared him to the actor Sharon Stone in an explicit film scene. Serbia is Moscow's closest ally in the Balkans, but President Aleksandar Vucic has long annoyed Russia by seeking better ties with the West

Turkey's Erdogan, EU's Michel discuss East Med - CNN Turk
World

Turkey's Erdogan, EU's Michel discuss East Med - CNN Turk

ISTANBUL (Reuters) - Turkish President Tayyip Erdogan and European Council President Charles Michel discussed developments in the Eastern Mediterranean on Sunday, CNN Turk reported. NATO allies Turkey and Greece have been locked in a row over hydrocarbon exploration in the sea's disputed waters and the extent of their continental shelves. There was no official confirmation of the talks.

Jump in COVID-19 cases in Britain is 'concerning' - Hancock
World

Jump in COVID-19 cases in Britain is 'concerning' - Hancock

LONDON (Reuters) - The sharp rise in COVID-19 cases in Britain of 2,988 recorded on Sunday, the highest jump since May, was "concerning", Health Secretary Matt Hancock said, although he added that the majority were younger people. "The rise in the number of cases that we've seen today is concerning," he said. "The cases are predominately among younger people, but we've seen in other countries across the world and in Europe this sort of rise in the cases amongst younger people leading to a rise across the population as a whole." He said everybody had to follow social distancing rules to prevent the spread of infections.