Chevron Backs Up Charges in $18 Billion Ecuadorian Judgment
courtesy of Chevron Corp.In documents filed with the federal district court in Manhattan this morning, Chevron Corp. (NYSE: CVX) for the first time included evidence of bribery in the $18 billion judgment against the company levied by an Ecuadoran court…
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.
In documents filed with the federal district court in Manhattan this morning, Chevron Corp. (NYSE: CVX) for the first time included evidence of bribery in the $18 billion judgment against the company levied by an Ecuadoran court nearly two years ago. Chevron today presented a declaration from a former Ecuadorian judge who says he and another former judge effectively allowed the plaintiffs’ attorneys to write the 188-page judgement against Chevron in exchange for $500,000.
In July another federal judge declared that another “ghostwriting” scandal “unquestionably” occurred in the preparation of a report by a court-appointed expert.
Chevron is not off the hook completely, however, according to a report in Forbes. The former Ecuadorian judge who made the declaration filed today has received $38,000 from Chevron to pay for physical evidence he has turned over and to pay the former judge’s family $10,000 a month for living expenses and $2,000 a month for housing, insurance and legal fees.
The Forbes article is available here and offers a good summary of the twists and turns of this massive litigation.
Contact [email protected] for any questions or corrections.
Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
