Former Stericycle Finance Director Charged For Alleged Bribes
By Ben Glickman
A former finance director for the Latin America division of Stericycle was charged for his alleged role in a $10 million bribe scheme.
The Justice Department alleged Abraham Cigarroa Cervantes, 51, and others had helped make hundreds of bribe payments to officials in Brazil, Mexico and Argentina to secure business and gain an advantage for the waste-management company.
Stericycle in 2022 admitted to bribing officials in the three countries. It entered a three-year deferred prosecution agreement and agreed to pay more than $84 million to various authorities.
Cigarroa and Stericycle couldn't immediately be reached for comment.
The indictment of Cigarroa was returned Tuesday by a federal grand jury in the Southern District of Florida.
Cigarroa and other employees allegedly made payments, typically in cash, to officials, then maintained false books and records in order to post the bribe payments as legitimate expenses.
The Justice Department said Cigarroa would face a maximum penalty of five years in prison for each of the two counts charged if he is convicted.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
March 19, 2024 19:14 ET (23:14 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
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