A Guatemalan court has convicted a former associate of the country’s former minister of communications Alejandro Sinibaldi for laundering bribes paid by Odebrecht, local media reports
Juan Arturo Jegerlehner is the first individual convicted in Guatemala in connection to bribes Brazilian construction company Odebrecht paid to officials in exchange for contracts. He was sentenced to three years jail and must pay a $100,000 fine.
Jegerlehner’s sentence was reportedly halved because he agreed to cooperate with prosecutors’ investigations.
Prosecutors allege that Jegerlehner helped Sinibaldi distribute $19.7 million that the minister had received in bribes.
In January, Odebrecht paid $17.8 million to resolve bribery allegations in Guatemala – an amount equivalent to bribes paid to officials in the country, according to US settlement papers.
The Philippine central bank said in a 26 October statement that it now requires banks to report cybersecurity breaches to it within two hours of discovering the breach.
“This is necessary in view of the speed of exploitation, proliferation of attack tools and actors, and potentially massive extent of damage from cyber-related incidents,” Bangko Sentral NG Pilipinas (BSP) said in the statement.
The BSP said banks will have to submit a second report within 24 hours that includes: “the manner and time of initial detection, impact of the incident, and initial remedial response.”
Banks in the Philippines previously had 10 days to report breaches.
A jury at the US District Court for the Southern District of New York has acquitted three British ex-traders of manipulating prices in the foreign exchange market, according to reports.
Following a two-week trial, the jury acquitted Richard Usher, Rohan Ramchandani and Christopher Ashton, former traders at JPMorgan, Citigroup and Barclays respectively, on 26 October.
Counsel to Usher, Jonathan Pickworth at White & Case in London, told the Financial Times: “Richard can now go home to his family. It took the jury three hours to work out what the DOJ [US Department of Justice] failed to see in five years.”
Weng Yee Ng
Matthew Getz and David Bufton
David W Ogden, Ronald C Machen, Stephen A Jonas and Ericka Aiken
Günter Degitz and Rich Kando
Boutique Law LLP
Boutique Law LLP