Brazilian conglomerate Odebrecht SA's will use part of a 2.6 billion reais (US$709.96 million) bank loan to repay a loan in arrears with state-controlled bank Banco do Brasil SA, according to sources quoted by Reuters. Under the terms of an agreement announced on Friday, the engineering group, at the center of a corruption scandal, will repay a 100 million reais debt to Banco do Brasil.
Mexico has banned federal institutions and state governments from doing business with Brazilian construction firm Odebrecht for the next 2-1/2 years, and fined the company around US$ 60 million, the government said.
The Brazilian firm Odebrecht, under investigation in 12 countries for bribing government officials, has found a loophole in Argentina's legal system to sue state-owned water supplier AySA.
Peru's embattled President Pedro Pablo Kuczynski said on Monday he was confident of surviving an impeachment vote later this week. I know that Thursday will be fine, the conservative leader said in a speech in the Amazonian city of Iquitos.
A key aide of Brazil’s President Michel Temer has been indicted on charges of corruption and money-laundering. Senator Romero Juca, one of the major architects of the Temer administration’s reform agenda and an advocate for central bank independence, is being charged with soliciting illegal campaign funding of construction company Odebrecht in return for political favors.
Prosecutor general, Raquel Dodge, requested Brazilian Supreme Court justice, Edson Fachin, to include president Michel Temer in the list of those under investigation in an inquiry launched last year to determine Odebrecht's alleged payments to the Brazilian Democratic Movement (MDB) party in 2014.
Peruvian President Pedro Pablo Kuczynski and one of his leading political rivals appeared on Thursday before prosecutors investigating payments to politicians by Brazilian construction company Odebrecht. Kuczynski and ex congresswoman Keiko Fujimori are being investigated by anti-corruption prosecutors in separate probes. Both have denied wrongdoing.
Peruvian President Pedro Pablo Kuczynski survived an impeachment vote in congress late Thursday, thwarting an attempt by opposition lawmakers to oust him over ties to the Brazilian construction giant implicated in the region's biggest corruption scandal.
Brazilian builder Odebrecht said on Saturday that its recently-disclosed business ties to embattled Peruvian President Pedro Pablo Kuczynski were not part of the corrupt deals it struck with politicians that it has acknowledged to prosecutors.
Four former and current executives of Peruvian construction companies were detained pending trial, accused of colluding with Brazilian builder Odebrecht to bribe a former president.