The former president of the Brazilian petrochemical company Braskem, a subsidiary of Odebrecht, was sentenced to 20 months in prison and paid US$3.2 million by a New York judge for the “foreign bribery program”.
Mexico City (apro).- On January 22, the US Department of Justice announced Juan Carlos Grubisich, former president of Brazilian petrochemical firm Braskem was sentenced to 20 month imprisonment by a New York court. He was also fined US$3.2 million for a “Foreign Bribery Program.”
According to EFE Agency information, Grubicic, 64 years old, admitted to two charges of bribery, and failing to accurately disclose his financial data on April 15.
He admitted to bribing a member of the Brazilian government to ensure that a Petrobras project was developed by Braskem, and that he falsified the company’s accounts while running the company, recording payments to shell companies in tax havens as legitimate .
According to the prosecutor’s office, Grubisich was an executive director at Braskem and participated in a scheme to bribe Brazilian officials using an informal fund that he and his partners had created. Braskem controls tax havens and has created shell companies and fraudulent contracts.
Grubisich and his associates transferred $250 million from Braskem into the fund as part of the plan.
Braskem was ordered to pay a $632.6 million fine by the New York Court in December 2016 after he admitted the charges.
Another New York judge ordered Odebrecht, to pay US$2.6billion in April 2017 for the scandal that involved bribery of officials from 12 Latin American and Africa countries.
According to published court documents, these payments are related to “more than one hundred projects in 12 countries, including Angola, Argentina, Brazil, Colombia, Dominican Republic, Ecuador, Guatemala, Mexico, Mozambique, Panama, Peru, and Venezuela”. According to EFE, the payments were made at that time.