All Odebrecht articles

  • Brazil
    News Brief

    OECD group questions Brazil’s momentum on anti-bribery

    2023-10-23T17:48:00Z

    Brazil has made strides in its anti-bribery enforcement efforts, but a working group at the Organization for Economic Cooperation and Development is concerned the country doesn’t have the controls in place to sustain its progress.

  • Colombia
    News Brief

    ​Grupo Aval to pay $81M in landmark FCPA case

    2023-08-11T14:52:00Z

    Colombian conglomerate Grupo Aval agreed to pay nearly $81 million as part of settlements addressing alleged bribes paid by its bank subsidiary Corficolombiana to win a highway construction contract.

  • Braskem
    Article

    Ex-Braskem CEO gets 20 months in prison over bribery scheme

    2021-10-12T21:36:00Z

    Jose Carlos Grubisich was sentenced to 20 months in prison for his role in a scheme to divert hundreds of millions of dollars in bribe payments from Braskem to government officials and political parties in Brazil.

  • Odebrecht site
    Article

    Austrian banker arrested for role in Odebrecht-related scheme

    2021-05-26T19:32:00Z

    The former CEO of an Austrian bank was arrested in the United Kingdom on criminal charges for his alleged role in a massive money laundering scheme involving Brazil-based global construction conglomerate Odebrecht.

  • Braskem
    Article

    Ex-Braskem CEO pleads guilty for role in bribery scheme

    2021-04-16T15:44:00Z

    The former CEO of Brazilian petrochemical giant Braskem pleaded guilty 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.

  • Braskem
    Article

    Braskem self-reports probe into ‘improper payments’

    2021-03-15T16:45:00Z

    Brazil-based petrochemical giant Braskem disclosed the launch of an internal investigation into allegations of “improper payments” related to an ethane supply project in Mexico.

  • Odebrecht site
    Article

    Four years later, Odebrecht’s external monitorship ends

    2020-11-24T16:57:00Z

    Odebrecht has reached the end of its compliance monitorship, four years after pleading guilty and resolving charges with authorities in the United States, Brazil, and Switzerland for violations of the Foreign Corrupt Practices Act.

  • Crane
    Article

    Odebrecht to make $50M in charitable contributions under settlement

    2019-09-09T15:18:00Z

    Brazil-based construction and engineering company Odebrecht has committed to make $50 million in total charitable contributions as part of a settlement reached to resolve allegations of bribery.

  • Columnist_Fox
    Article

    South America cleans up its act

    2019-03-27T21:41:00Z

    A look at key investigations and enforcement actions in South America and Mexico in the past four years signifies a changing legal landscape that offers compliance lessons in advancing third-party anti-corruption compliance.

  • Blog

    World Bank debars Odebrecht subsidiary

    2019-01-29T11:30:00Z

    The World Bank has imposed a three-year debarment on Brazil-based construction and engineering company Construtora Norberto Odebrecht for fraudulent and collusive practices during its participation in the World Bank-financed Río Bogotá Environmental Recuperation and Flood Control Project in Colombia.

  • Blog

    Department of Justice investigating Grupo Aval

    2018-12-12T14:30:00Z

    Grupo Aval recently received an inquiry from the Department of Justice concerning the Ruta del Sol 2 project, a highway project involving Brazilian construction company Odebrecht and one of Grupo Aval’s subsidiaries, Corficolombiana.

  • Blog

    Aggressive global anti-fraud enforcement to continue

    2017-12-11T10:00:00Z

    If you thought that enforcement actions like Odebrecht and Vimpelcom were behind us, guess again. They were just the tip of the iceberg. Welcome to the enforcement era.

  • Blog

    Graña y Montero makes governance changes amid bribery probe

    2017-06-06T12:45:00Z

    Peruvian engineering and construction company Graña y Montero has made several governance changes of late, including the appointment of a new chief risk and compliance officer, as the company faces a bribery investigation connected to Odebrecht.

  • Blog

    U.S. judge orders Odebrecht to pay $2.6B in global bribery case

    2017-04-18T12:15:00Z

    A U.S. federal judge this week ordered Odebrecht to pay $2.6 billion in fines for violations of the Foreign Corrupt Practices Act, securing a plea deal reached last year with authorities in the United States, Brazil, and Switzerland.

  • Article

    The international side of the Odebrecht case

    2017-03-28T14:15:00Z

    The Odebrecht corruption case is already a thing of legend for its size and scope, but it might ultimately be better known for the improvement in international compliance it will encourage.

  • Blog

    A South American response to corruption

    2017-02-21T06:45:00Z

    In a very interesting development from the Odebrecht corruption scandal, federal prosecutors in Brazil and ten other countries recently announced they had agreed to cooperate in ongoing investigations surrounding the company, writes The Man From FCPA Tom Fox.

  • Blog

    Next in line for regulatory troubles, Fiat?

    2017-01-16T09:15:00Z

    Fiat, which was recently flagged by the EPA for pollution violations, could be a reminder to companies to scour the news for details on any regulatory investigations of their peers and perhaps to begin scrutinizing their own books and records, says The Man From FCPA Tom Fox.

  • Blog

    The Odebrecht enforcement action—the aftershocks

    2017-01-05T09:00:00Z

    Have you been doing business with corruption-plagued Odebrecht? Better conduct a thorough internal investigation to ascertain if there are any red flags indicating suspicious payments, writes Tom Fox.

  • Blog

    Odebrecht, Braskem to pay record $3.5B in global bribery case

    2016-12-22T12:15:00Z

    Global construction company Odebrecht, based in Brazil, and Brazilian petrochemical company Braskem pleaded guilty yesterday and agreed to pay a combined total penalty of at least $3.5 billion—the largest foreign bribery case in history, according to the U.S. Department of Justice. Jaclyn Jaeger has more.