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Bribing Official at European Bank Lands Philly Man 7 Years
A former Pennsylvania businessman has pleaded guilty to bribing a high-ranking official at the European Bank for Reconstruction and Development (EBRD), earning millions in the process.
Dmitrij Harder, 43, of Huntingdon Valley, PA, admitted to paying $3.5 million in bribes to influence the official’s actions on applications for EBRD financing submitted by his company’s clients. The scheme, which ran between 2007 and 2009, netted Harder’s company, Chestnut Consulting Group Inc., approximately $8 million in ‘success fees.’
The EBRD, a multilateral development bank headquartered in London, provided financing for development projects in emerging economies, primarily in Eastern Europe. Harder’s bribes allegedly influenced the bank’s decision to approve applications for financing from two of his company’s corporate clients, resulting in investments and loans totaling over $185 million.
The case is being investigated by the FBI’s Philadelphia Division and prosecuted by Assistant U.S. Attorney Michelle Morgan and Senior Trial Attorney Jason Linder of the Criminal Division’s Fraud Section. The City of London Police and the U.S. Attorney’s Office also provided assistance in the matter.
Harder is set to be sentenced on July 21, 2016, and faces up to 5 years in prison for violating the Foreign Corrupt Practices Act (FCPA). He is a legal permanent resident of the United States.
The EBRD’s official, whose identity has not been released, allegedly received approximately $3.5 million in bribes from Harder. The exact nature of the official’s role at the bank has not been disclosed.
The investigation into Harder’s activities is ongoing, and officials say that the case highlights the need for greater transparency and accountability in international financial dealings.
Harder’s plea deal comes as the U.S. government continues to crack down on corruption and bribery in the international business community. In recent years, the U.S. has pursued high-profile cases against individuals and companies accused of engaging in corrupt practices abroad.
Key Facts
- State: Pennsylvania
- Category: Public Corruption|White Collar Crime
- Source: DOJ Press Release â†â€â€
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