A former senior oil and gas trader from Connecticut has been sentenced to 15 months in prison for his involvement in a long-running scheme to bribe Brazilian government officials and launder money. Glenn Oztemel, 66, of Westport, was also fined $300,000 following his conviction.
Court documents and evidence presented at trial showed that Oztemel paid more than $1 million in bribes to officials at Petróleo Brasileiro S.A. (Petrobras), Brazil’s state-owned oil company. These payments were made in exchange for confidential information such as competitor bids and pricing details from other U.S. companies, which helped Arcadia Fuels Ltd. (Arcadia) and Freepoint Commodities LLC (Freepoint) gain an advantage in securing contracts with Petrobras.
The trial revealed that Oztemel and his associates arranged for Arcadia and Freepoint to make corrupt payments disguised as consulting fees or commissions to intermediary Eduardo Innecco. They knew Innecco would use part of these funds to pay Brazilian officials, including Rodrigo Berkowitz, a Petrobras trader based in Houston. The group used coded language like “breakfast” and “freight deviation,” communicated via personal emails, encrypted messaging apps, disposable phones, and false names such as “Spencer Kazisnaf” and “Nikita Maksimov” to hide the scheme.
Oztemel was convicted in September 2024 on charges including conspiracy to violate the Foreign Corrupt Practices Act (FCPA), conspiracy to commit money laundering, three counts of violating the FCPA, and two counts of money laundering.
In December 2023, Freepoint admitted to bribing Brazilian officials in violation of anti-bribery laws. The company entered into a deferred prosecution agreement with the Criminal Division’s Fraud Section and the U.S. Attorney’s Office for the District of Connecticut, agreeing to pay over $98 million in penalties and forfeiture.
“Acting Assistant Attorney General Matthew R. Galeotti of the Justice Department’s Criminal Division; U.S. Attorney David X. Sullivan for the District of Connecticut; and Assistant Director in Charge Akil Davis of the FBI’s Los Angeles Field Office made the announcement.”
The case was investigated by the FBI Los Angeles Field Office’s International Corruption Squad with assistance from authorities in Brazil, Latvia, Switzerland, Uruguay, and the Justice Department’s Office of International Affairs.
Prosecution was handled by Trial Attorneys Allison McGuire and Clayton P. Solomon from the Criminal Division’s Fraud Section along with Assistant U.S. Attorney Michael McGarry for Connecticut.
The Justice Department continues its enforcement efforts related to FCPA violations through its Fraud Section.