Scandal-ridden Brazil construction giant Odebrecht, which has admitted to spending nearly US$ 800 million to bribe officials across Latin America to win contracts, filed for bankruptcy protection on Monday, judicial sources said.
Emílio Odebrecht will resign as chairman of the board of the scandal-plagued Brazilian engineering conglomerate Odebrecht SA in the first half of next year, newspaper O Estado de S. Paulo reported. Emilio Odebrecht is one of 77 executives of the engineering conglomerate to sign a plea deal.
Brazil’s Attorney General’s office announced on Tuesday that it has tripled its 2018 budget for the investigation into a sprawling corruption scandal that has engulfed political and business leaders across Latin America.
The former CEO of the huge Brazilian builder at the center of the world's biggest corruption scandal spoke frankly about the billions in bribes and illegal financing that the Odebrecht company put into the pockets and campaign coffers of politicians and public officials.
A United States judge on Monday sentenced Brazilian engineering company Odebrecht SA to pay US$2.6 billion in fines in a massive criminal corruption case, signing off on a plea deal between the company and U.S., Brazilian and Swiss authorities.
One of Brazil's leading newspapers, Folha de Sao Paulo, reported that the Odebrecht family group confessed to have provided the 2014 presidential ticket campaign, Dilma Rousseff-Michel Temer with millions of dollars in slush funds for the campaign.
Federal prosecutors and Odebrecht SA have agreed on the world's biggest plea and leniency deal under which the embattled engineering conglomerate would pay around 7 billion Reais (US$ 2 billion) in fines related to its role in Brazil's biggest corruption scandal, local media reported.
Brazil's current foreign minister Jose Serra name has emerged in the Petrobras investigation of companies, politicians and company's unfaithful officials. The construction group Odebrecht provided two names to the Lava Jato (Car Wash) investigation as being those who carried out operations that transferred R$ 23 million (US$ 7.3 million) from the construction company to the 2010 presidential campaign of Jose Serra, in off-the-books transactions.
Brazil’s national development bank has frozen $13.5bn of funds for 47 overseas projects, including those in Angola, Mozambique, Cuba and the Dominican Republic, as yet more corruption charges are brought against politicians and executives arising from the Lava Jato corruption probe.
Brazilian prosecutors said on Monday they had charged former President Lula da Silva and Marcelo Odebrecht, ex-CEO of engineering group Odebrecht SA, with corruption related to contracts in Angola.