© 2016 The Texas Lawbook.
By L.M. Sixel of The Houston Chronicle
HOUSTON (April 21) – A federal grand jury in Houston has charged that Chevron oil trader and a Houston energy consultant engaged in international commercial bribery scheme and funneled the money they received from kickbacks into offshore bank accounts, U.S. Attorney Kenneth Magidson said Thursday.
The trader, Shawn Thomas Potts, 41, of Pennsylvania, surrendered in Houston. He is expected to make an initial court appearance here before U.S. Magistrate Judge Nancy Johnson Thursday afternoon.
Robert Stanley Corbitt, 71, of Houston, was arrested Wednesday and posted bond. He has since been released.
The indictment alleges that Potts and Corbitt engaged in wire fraud and money laundering between 2004 and 2012. The trades involved Chevron oil purchases from Belarus, Russia, and Cameroon in West Africa.
Potts, a Chevron oil trader based in New Jersey and later in London, directed Chevron oil trades to entities willing to pay kickbacks, according to the U.S. Attorney’s office. Corbitt, who worked as a consultant on the Chevron trades, allegedly received the kickbacks and funneled the money to his Cayman Islands bank account, according to the U.S. Attorney. .
Chevron spokeswoman Erika Conner said the company appreciates the federal investigative efforts.
“Chevron is a victim in this case and has cooperated with law enforcement agencies investigating the alleged violations,” Conner said in a written statement.
For more news on the oil and gas industry in Texas, visit FuelFix.com.
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