Atlanco CEO convicted in Honduras bribery and money-laundering case
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A U.S. federal jury convicted Carl Alan Zaglin, CEO of Georgia-based Atlanco LLC, of conspiracy to violate the FCPA, violating the FCPA and conspiracy to commit money laundering. The DOJ said the scheme involved bribes to Honduran officials to secure more than $10 million in contracts for law-enforcement goods between 2015 and 2019, allegedly routed through intermediary Aldo Nestor Marchena using sham invoices and coded language.
Marchena, Francisco Roberto Cosenza Centeno and Juan Ramon Molina previously pleaded guilty to money-laundering conspiracy charges, according to the DOJ. Zaglin has not yet been sentenced; the court will determine the sentence after considering applicable guidelines and statutory factors.
The case highlights corruption risks in public procurement involving third-party intermediaries, sham consulting documentation and payments routed through multiple jurisdictions. Effective controls should scrutinise intermediary services, invoice substantiation, beneficial ownership and transactions involving public officials.