📰【Financial News】📰

Former Vitol Group oil trader Javier Aguilar pleaded guilty in a federal court in Brooklyn, New York, for two U.S. bribery cases and faces up to 40 years in prison and a fine of more than $7.1 million💸.

Aguilar was accused of paying bribes in Mexico and Ecuador to obtain $500 million in business. Prosecutors said he paid bribes in cash at hotels, airports and even parking lots, involving widespread corruption in the international commodity market.

This case also shows us that Vitol Group, the world's largest independent oil trader, reached a $160 million settlement with the U.S. Department of Justice in 2020 over bribery charges. Aguilar's lawyer said all outstanding charges have been resolved after the guilty plea.

What do you think of the impact of this case? Feel free to share your views in the comments section! 📊💬

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