At the center of the latest probe are state-run auctions through which Venezuela’s government regulates foreign currency exchange and injects U.S. dollars into the country’s economy. In 2014, Telefónica Venezolana participated in a government ...

A Venezuelan subsidiary of a Spanish phone company will pay more than $85 million to resolve a U.S. Justice Department investigation into a scheme to bribe Venezuelan government officials

Spain’s largest telecommunications operator will pay more than $85 million to resolve a U.S. Justice Department investigation into a scheme to bribe Venezuelan officials with a lavish Caribbean vacation and expensive watches.