The former vice-president of a Pennsylvania coal company was convicted of bribing Egyptian government officials in connection with over $140 million in coal supply contracts.
Charles Hunter Hobson, the former VP of Corsa Coal Corportation, was found guilty by a jury of conspiracy to violate the Foreign Corrupt Practices Act, two counts of violating that act, money laundering, conspiracy to that charge and conspiracy to commit wire fraud. Evidence at trial showed that between 2016 and 2020, he conspired to and paid bribes to Egyptian government officials to win contracts for his company to sell coal products to Al Nasr Company. The bribes were reportedly paid out through purported sales commissions and laundered through bank accounts in the U.S. and the United Arab Emirates. He also secretly received kickback payments through the scheme.
He faces up to five years in prison for each charge connected with the FCPA and a maximum penalty of 20 years in prison for the other charges. No word on when sentencing will be held. Frederick Cushmore Jr., another Corsa executive, previously pleaded guilty for his role in the scheme and is awaiting sentencing.
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