A former finance director is now facing the music for his alleged role in greasing the palms of government officials across Latin America to the tune of $10 million. The U.S. Department of Justice dropped the hammer on Abraham Cigarroa Cervantes, the ex-finance chief for Stericycle Inc.'s Latin America division, with a federal indictment accusing him of funneling bribes to nab contracts and gain illegal advantages in Brazil, Mexico, and Argentina.
The scheme, which reportedly took place from 2011 to 2016, involved Cigarroa and accomplices who made it their business to ensure that cash bribes were distributed to officials. These illicit payments were not simply hush money, but calculated percentages of government contract payments. The accused went to lengths to obfuscate their underhanded dealings, documenting their dirty deeds in spreadsheets with code words, as detailed in a statement by the Justice Department.
Cigarroa, 51, who is Mexican, faces counts of conspiracy to violate the Foreign Corrupt Practices Act's (FCPA) anti-bribery and books and records provisions. If he is found guilty, he could serve up to a decade behind bars—five years for each count. His former employer, Stericycle, had previously admitted to engaging in bribery and agreed to pay more than $84 million in a settlement that spanned the American and Brazilian legal landscapes.
This development was announced by a trinity of law enforcement figureheads: U.S. Attorney Markenzy Lapointe for the Southern District of Florida, Principal Deputy Assistant Attorney General Nicole M. Argentieri, and FBI New York's James Smith. They topled the case before the public through a DOJ release and a tweet from the DOJ Criminal Division's official Twitter account. With federal eyes continuing to watch the unfolding of events, the prosecution of the case is being spearheaded by Assistant U.S. Attorney Manolo Reboso and Trial Attorneys Paul A. Hayden and Jil Simon.
Former Finance Director Charged for Role in $10M Foreign Bribery Scheme
— Criminal Division (@DOJCrimDiv) March 19, 2024
🔗: https://t.co/pjLKtcJnD7 pic.twitter.com/UT8cT3IRJy
While the indictment has been set in stone, Cigarroa remains innocent until proven guilty beyond a reasonable doubt.
