Guatemala: Former Economic Minister Acisclo Valladares Urruela Pleads Guilty to Using Miami Bank Pay for Bribes

Guatemala's former economic minister Acisclo Valladares Urruela has pleaded guilty in a Miami court to conspiring to money laundering and using a Miami bank to pay bribes to Guatemalan politicians.

Miami Herald reported that Valladares admitted that he sent $350,000 in bribery payments to the unidentified Guatemalan politicians through two companies with bank accounts in Miami.

Valladares also acknowledged that he received $140,000 for his money laundering operations based on a factual statement filed with his plea agreement.

Valladares paid the illegal bribes on account of a telecommunications company, wherein he worked as a corporate officer. The telecommunications company was reportedly known as Tigo.

Valladares was also an attorney in Guatemala. The plea agreement noted that he also did not act alone in operating the money laundering scheme.

Former Economic Minister Acisclo Valladares Urruela Bribes

In 2014, senior executives at the telecommunications company "directed" him to get cash "to be used for the benefit of" Tigo, which was Valladares' employer at the time.

The transactions were done before he was appointed as Minister of Economy. The operation involved "both Guatemalan and American financial institutions."

Special Prosecutor's Office against Impunity of the Public Prosecutor's Office of Guatemala accused Valladares of illicit association and money laundering, according to a DW News report.

In January 2020, the ex-minister lost his immunity as an official and became wanted in the Central American country for the case.

Valladares' guilty agreement and cooperation with federal investigators and prosecutors could give him an opportunity to apply for a visa to stay in the U.S. if it is proven that his life is in danger in Guatemala.

Meanwhile, officials of the telecommunications company were not named in any court records. However, Tigo's known president at the time is Mario Lopez Estrada. He is a civil engineer who is known as Guatemala's first billionaire.

Prosecutors and the Federal Bureau of Investigation were also able to establish a money laundering case against Valladares as they got assistance from co-conspirators.

Guatemala Bribery Scheme

Authorities called the investigation on the matter "Operation Black Mass."

Valladares was arrested and granted bail in 2020. He faces four to five years in prison at his sentencing. In addition, he is ordered to pay a $ 140,000 penalty to the U.S. government and could be further fined up to $500,000.

The U.S. Embassy announced that it had revoked visas for some of Guatemala's former officials, as reported by Reuters.

Guatemala's government's raid also led to the arrest of former Mayor Angel Ren Guarcas of Ciche, who was wanted for campaign finance violations.

Prosecutors issued warrants for five former lawmakers, including a close ally of ex-President Jimmy Morales.

A special forces soldier was also issued a warrant. The soldier also ran for the presidency, which President Alejandro Giammattei won.

Giammattei vowed to immediately create an anti-corruption force tied to the president's office instead.

Meanwhile, the U.S. embassy did not name the officials whose visas were removed.

This article is owned by Latin Post.

Written by: Mary Webber

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