Former President of Guatemala Alfonso Portillo has pleaded guilty to laundering millions of dollars through US banks.
According to the Indictment and Portillo’s guilty plea allocution, from December 1999 through August 2002, while serving as President of Guatemala, Portillo received $2.5 million in bribery payments from the Government of Taiwan.
Portillo conspired with others to launder the $2.5 million through bank accounts located in the United States. The money was carried from Guatemala to the US and deposited into US bank accounts.
Three checks totaling $1.5 million were issued in 2000 and endorsed personally by Portillo. Two additional checks totaling $1 million were issued in 2002 and deposited at the International Bank of Miami.
Portillo faces a maximum term of 20 years in prison and a maximum fine of the greater of $500,000, or twice the value of the monetary instruments or funds involved in the money laundering transactions.
Portillo will be sentenced by Judge Robert P. Patterson on June 23, 2014, at 4:00 p.m.
The case was investigated by the New York Field Office of the Internal Revenue Service, Criminal Investigation, the Drug Enforcement Administration’s New York Organized Crime Drug Enforcement Strike Force, and the New York City Police Department.
Portillo’s guilty plea is a significant blow to those who believe they can use their position of power to commit crimes with impunity.
The Manhattan U.S. Attorney’s Office will continue to aggressively pursue and prosecute individuals who engage in violations of U.S. laws.
Portillo, 62, pleaded guilty to one count of conspiracy to commit money laundering.
Mandatory Facts: Defendant: Alfonso Portillo; Crime: Conspiracy to Commit Money Laundering; City and State: New York; Date: May 24, 2013; Sentence: 20 years in prison and fine; Amount: $2.5 million; Current Status: Pleaded Guilty.
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Key Facts
- State: New York
- Category: Public Corruption|White Collar Crime
- Source: DOJ Press Release â†â€â€
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