What is the Petrobras scandal?

The Federal Police consider it the largest corruption investigation in the country’s history. Originally a money laundering investigation, it expanded to cover allegations of corruption at Petrobras, where executives allegedly accepted bribes in return for awarding contracts to construction firms at inflated prices.

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.

Is Odebrecht still in business?

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.

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.

Is Odebrecht publicly traded?

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

When did Odebrecht get caught?

5 In July 2019, a judge issued an arrest warrant against Emilio Lozoya for receiving bribes from Odebrecht, in addition to money laundering, illicit enrichment and criminal association. 6 On February 12, 2020, he was arrested in Malaga, Spain.

Where is Odebrecht from?

Marcelo Odebrecht
Born Marcelo Bahia Odebrecht October 18, 1968 Salvador, Brazil
Nationality Brazilian
Alma mater Universidade Federal da Bahia
Occupation Businessman

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).