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SEC v. Willbros Group, Inc., Jason Steph, Gerald Jansen, Lloyd Biggers, Carlos Galvez

 
:
Willbros - Galvez, Carlos
:
SEC Civil
:
May 14, 2008
:
SEC v. Willbros Group, Inc., Jason Steph, Gerald Jansen, Lloyd Biggers, Carlos Galvez
:
SEC v. Willbros Group, Inc., No. 4:08-cv-01494 (S.D. Tex. 2008)
:
Galvez was only charged by the SEC while more senior and culpable officers were charged by the DOJ.

Galvez was charged with aiding and abetting violations of the books and records provisions, instead of aiding and abetting anti-bribery.
:
Energy (Non-Utility)-Oil & Gas-Other/Multi
:
Bolivia
:
2002; 2003; 2004
:
The details of the payment scheme are set forth in the fact description for Willbros - Willbros International, Inc.

Galvez settled the SEC action without admitting or denying the allegations set forth in the SEC complaint as follows:

Galvez was an employee of Willbros Transandina, S.A., a Bolivian subsidiary of Willbros International, Inc. ("WII"), a direct subsidiary of Willbros Group, Inc. ("WGI"). Galvez had an accounting and administrative supervisory role for Willbros Transandina. Acting under the direction of the former president of WII, Galvez helped to execute a scheme to fraudulently reduce the WGI Bolivian subsidiary's VAT tax liability. Through an outside consultant, the company bought false invoices in order to fraudulently claim VAT tax credits to reduce its tax liability. In 2004 alone, WGI paid more than $500,000 to the outside consultant for fraudulent invoices. Galvez furthered the scheme by preparing false returns and related records, in violation of the internal controls and books and records requirements.

Having settled this claim, the civil action against Galvez is terminated.
:
Aiding and abetting books and records, Aiding and abetting internal controls, Books and records (Individual), Internal Controls (Individual)
:
Civil penalty, Civil Settlement, Injunction/Cease and desist
:
In addition to agreeing to a permanent injunction against future violations of the provisions alleged, Galvez agreed to pay a civil penalty of $35,000 within ten days of judgment being entered.
:
35,000
:
0
:
Aider/abettor, Person (B&R/internal controls)
:
U.S.
:
Tax
:
Not stated.
:
Wire/check
:
Sales Agent/Consultant
:
500,000
:
Bolivia
:
No