Odebrecht Bribery Probes Continue Around the World
Just how far did the bribery tentacles of the Brazilian construction giant reach?
September 14, 2017 at 06:00 PM
3 minute read
Just how far did the bribery tentacles of Brazilian construction giant Odebrecht reach? The company has admitted paying $788 million in bribes in at least a dozen countries, mostly in Latin America, while investigations are underway in four more, according to an in-depth report this week by the British Broadcasting Corp.
And the Brazilian newspaper O Globo has reported that 29 countries, including the U.S., Sweden, France and the U.K., have asked Brazil for help with their own Odebrecht probes. Brazil asked a total of 38 countries to help in its own investigation. Odebrecht's attorneys at Quinn Emanuel Urquhart & Sullivan could not immediately be reached for comment.
The U.S. Department of Justice, Brazil and Switzerland jointly prosecuted the company, which pleaded guilty last December to violating the Foreign Corrupt Practices Act. At sentencing in April, the U.S. District Court for the Eastern District of New York imposed a $3.5 billion fine, the largest global fine ever in an FCPA case. And the investigations continue into individuals involved in the bribery schemes, while allegations have touched several current and former Latin American politicians, including Brazilian President Michel Temer, his foreign minister and his chief of staff.
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