The former CEO of Brazilian petrochemical giant Braskem pleaded guilty Thursday for his role in a scheme to divert hundreds of millions of dollars in bribe payments from the company to government officials and political parties in Brazil.
Jose Carlos Grubisich, a citizen of Brazil, was charged with violations of the Foreign Corrupt Practices Act (FCPA) and failing “to accurately certify Braskem’s financial reports,” the Department of Justice said in a press release. In addition to his guilty plea, he agreed to pay approximately $2.2 million in forfeiture.
