A former senior oil trader who used code words, burner phones, and fictitious personas to orchestrate a massive international bribery ring was sentenced today to 15 months in federal prison.
Glenn Oztemel, 66, of Westport, Connecticut, was also ordered to pay a $300,000 fine for his role in the nearly eight-year conspiracy involving Brazil’s state-owned energy giant, Petróleo Brasileiro S.A. (Petrobras).
The sentencing follows a trial last September where a jury convicted Oztemel of violating the Foreign Corrupt Practices Act (FCPA) and money laundering. Prosecutors detailed how Oztemel secured lucrative business advantages for his employers—Arcadia Fuels Ltd. and Freepoint Commodities LLC—by paying over $1 million in bribes to Brazilian officials.
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According to evidence presented in court, the scheme operated with the complexity of an espionage operation. To conceal the illicit payments, Oztemel and his co-conspirators utilized encrypted messaging apps, disposable “burner” phones, and personal email accounts.
They adopted aliases such as “Spencer Kazisnaf” and “Nikita Maksimov” and spoke in code, referring to bribes as “breakfast” or “freight deviation.”
The bribes were funneled through a third-party intermediary, Eduardo Innecco, disguised as consulting commissions. Innecco then passed a portion of the funds to compromised officials, including Rodrigo Berkowitz, a trader based in Petrobras’ Houston office.
In exchange, Oztemel received confidential inside information—such as competitor bids and pricing data—allowing his companies to undercut rivals and win fuel oil contracts.
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The fallout from the investigation has extended beyond Oztemel.
In December 2023, Freepoint Commodities LLC admitted to its involvement in the bribery scheme, entering a deferred prosecution agreement and agreeing to pay more than $98 million in criminal penalties and forfeiture.
The case was investigated by the FBI’s International Corruption Squad based in Los Angeles, with assistance from authorities in Brazil, Latvia, Switzerland, and Uruguay.
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