The United States continues to seek to bring to justice foreign PEPs who use American financial institutions to launder their ill-gotten gains. The extradition, to the United States, of Alfonso Antonio Portillo Cabrera, the former president of Guatemala, has been approved by the country's Constitutional Court, and its current leader, president Álvaro Colom. Portillo, who faces money laundering charges* in US District Court in New York City, is accused of laundering $70m through US banks.
Portillo allegedly embezzled state funds, and diverted (and laundered) funds from a children's charity. The Indictment also mentions funds received from Taiwan. The Guatemalan Government has stated that he stole $15m from the Guatemalan Ministry of National Defence. There are also reports that more than $1bn was illegally transferred abroad during his presidency.
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*United States vs. Alfonso Portillo, Case No.: 09-cr-01142-RPP (SDNY).
Portillo allegedly embezzled state funds, and diverted (and laundered) funds from a children's charity. The Indictment also mentions funds received from Taiwan. The Guatemalan Government has stated that he stole $15m from the Guatemalan Ministry of National Defence. There are also reports that more than $1bn was illegally transferred abroad during his presidency.
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*United States vs. Alfonso Portillo, Case No.: 09-cr-01142-RPP (SDNY).
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