What does Odebrecht do?

What does Odebrecht do?

Odebrecht, a Brazilian company dedicated to multiple industries in Brazil and abroad including construction, energy and real estate, paid at least US $788 million in bribes to obtain multi-million dollar contracts from state-owned companies, between 2001 and 2016.

What is the Brazilian car wash scandal?

According to the Operation Car Wash task force, investigations implicate administrative members of the state-owned oil company Petrobras, politicians from Brazil’s largest parties (including presidents of the Republic), presidents of the Chamber of Deputies and the Federal Senate, state governors, and businessmen from …

How much did the US Department of Justice fine Odebrecht?

Odebrecht and Braskem pleaded guilty to violating the FCPA and agreed to pay around $3.5 billion in penalties to U.S., Brazilian, and Swiss authorities although these fines were subsequently reduced due to Odebrecht’s financial difficulties.

Where are the headquarters of the Odebrecht conglomerate?

Salvador, State of Bahia, BrazilNovonor / Headquarters

What happened to Odebrecht?

In March 2016, he was sentenced to 19 years in prison for paying more than $30 million in bribes. The jail sentence was reduced to ten years in prison in December 2016 for paying a fine, admitting guilt and providing evidence to authorities.

Is Odebrecht publicly traded?

Odebrecht S.A. is publicly traded but closely held by the founding family and its present and former employees.

How corrupt is Brazil?

Transparency International’s 2016 Corruption Perception Index ranks the country 79th place out of 176 countries.

When did Petrobras go public?

All of Brazil cheered when CEO José Sergio Gabrielli rang the bell at the Sao Paulo exchange on September 23, 2010[10], and Petrobras’ shares began to trade simultaneously on the NYSE.

Does Odebrecht still exist?

The company was founded in 1944 in Salvador, Bahia by Norberto Odebrecht, and is now present in the regions of the Americas, the Caribbean, Africa, Europe and the Middle East. Its leading company is Norberto Odebrecht Construtora.

When did the Odebrecht scandal start?

According to US prosecutors, between 2007 and 2014 Odebrecht made multiple bribery payments worth $35 million to government officials in Argentina. 4 In January 2017, the head of the Argentine AFI (Federal Intelligence Agency), Gustavo Arribas, was indicted for receiving bribes and other gifts from Odebrecht.

Can you bribe police in Brazil?

Individuals and legal entities can be liable for bribery of foreign public officials in Brazil. Bribery of foreign public officials is regulated under the Brazilian Criminal Code (Decree Law No. 2,848) 3 for individuals, and the LAC for legal entities (administrative and civil liability).

Is Petrobras still state-owned?

Petróleo Brasileiro S.A., better known by the acronym Petrobras (Portuguese pronunciation: [ˌpɛtɾoˈbɾas ]), is a state-owned Brazilian multinational corporation in the petroleum industry headquartered in Rio de Janeiro, Brazil.

When was Odebrecht founded?

The company was founded in 1944 in Salvador, Bahia by Norberto Odebrecht, and is now present in the regions of the Americas, the Caribbean, Africa, Europe and the Middle East….Novonor.

Is Brazil a corrupt nation?

Is AC 12 a real thing?

While the department around which the show is based – AC-12, standing for Anti-Corruption Unit 12 – is fictional, there are various real-life equivalents dedicated to investigating police corruption and complaints.