Ex-Guatemala leader admits taking Taiwan bribes

Former Guatemalan President Alfonso Portillo on Tuesday admitted to taking $2.5 million in bribes from Taiwan in exchange for continuing to recognize the country diplomatically.

Portillo pleaded guilty in a federal court in New York to a charge of money laundering conspiracy, nearly year after he was extradited from his home country to face a U.S. indictment unveiled in 2010.

"I knew at the time that what I was doing was wrong, and I apologize for my crimes, take responsibility for them, and accept the consequences of my actions," Portillo said.

Source: Reuters