Financial Crime World

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HANDS OF TWO COMPANIES ACCUSED OF WRONGDOING IN LAVA JATO INVESTIGATIONS

In a shocking turn of events, two companies have been accused of wrongdoing in the ongoing Lava Jato investigations in Bolivia. The allegations come as part of a larger corruption scandal that has rocked the country.

Economic Damage Estimated at USD 2.2 Million

According to Romero, the estimated economic damage to the state amounts to USD 2.2 million. Romero filed a claim against the president of YPFB for alleged crimes of derelict of duty and anti-economic conduct. However, the National Public Prosecutor’s Office rejected the claim, stating that there was insufficient evidence demonstrating the alleged offenses.

Cases of Wrongdoing

  • Extortion Case: A private citizen claimed to have been extorted by a Fifth Criminal Instruction Judge in El Alto. The judge allegedly requested a payment of USD 10,000 to dismiss a criminal case against the citizen.
    • The affected citizen presented a recording of over 50 minutes in which the accused judge coordinated the extortion with a Prosecutor’s Office official.
  • Money Laundering Case: A congressional representative was charged with money laundering, alleging that the funds came from an old real estate business. However, the representative told the prosecutor that the funds came from an old real estate business, sparking concerns about the legitimacy of the transactions.

Ongoing Investigations

The Bolivian Soccer Federation also filed a criminal claim against officials and players accused of manipulating match results. The investigation continues, with the Public Prosecutor’s Office working to uncover evidence of corruption within the organization.

Government Efforts to Combat Corruption

As part of its efforts to combat corruption, the government has implemented its Plurinational Policy Against Corruption, which aims to:

  • Develop an interoperable Risk Management System
  • Include anticorruption clauses in public contracts
  • Strengthen coordination with private sector companies

The FIU is also expected to regulate new sectors subject to anti-money laundering dispositions. The agency’s efforts come as part of a larger push to combat financial crimes and corruption in Bolivia.

PPO’s Take on the Matter

At PPO, we are committed to providing exceptional legal services to our clients. Our team of experienced attorneys is well-equipped to navigate the complexities of Bolivian law and help clients achieve their goals while avoiding potential pitfalls. We believe that transparency and accountability are essential components of a healthy business environment, and we will continue to monitor developments in the Lava Jato investigations closely.

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About PPO

PPO is the largest law firm in Bolivia, with leading practices in all areas. Our clients know they can rely on us for their most challenging legal and business matters. With 60 attorneys and over 100 professionals, we work assertively to provide exceptional service, sophisticated advice, and creative, practical solutions.

We have a strong presence in five cities: La Paz, Cochabamba, Santa Cruz, Sucre, and Cobija. Our team is dedicated to providing the highest level of service to our clients, and we are committed to being at the forefront of legal developments in Bolivia.