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NEW YORK A former chief executive of Braskem SA, Brazil’s largest petrochemicals company, pleaded guilty on Thursday to involvement in what U.S. prosecutors called a 13-year bribery scheme that involved Braskem’s parent, Odebrecht SA.
Jose Carlos Grubisich admitted in Brooklyn, New York, federal court to conspiring to violate anti-bribery provisions of the federal Foreign Corrupt Practices Act, and falsify Braskem’s records and financial reports to conceal bribes.
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(Brazilian Petrobas image via Courthouse News)
BROOKLYN (CN) Appearing in federal court on a drizzly Thursday in Brooklyn, the former CEO of Brazil’s largest petrochemical company pleaded guilty to bribery conspiracy charges, saying he helped to facilitate payments to government officials to secure business deals.
Jose Carlos Grubisich, 64, led Braskem SA from 2002 to 2008. During that time, he told the court, he was asked to create an “off-the-books slush fund” that would pay an unidentified foreign official $4.3 million, in order to retain a contract with the Brazilian state-owned oil company Petrobras.
Grubisich admitted to having helped create offshore shell companies that funneled money into the fund these companies “did not provide legitimate services to Braskem,” he said.
(Adds details of allegations, Braskem and Odebrecht 2016 guilty plea, case citation, byline)
NEW YORK, April 15 (Reuters) - A former chief executive of Braskem SA, Brazil’s largest petrochemicals company, pleaded guilty on Thursday to involvement in what U.S. prosecutors called a 13-year bribery scheme that involved Braskem’s parent, Odebrecht SA.
Jose Carlos Grubisich admitted in Brooklyn, New York, federal court to conspiring to violate anti-bribery provisions of the federal Foreign Corrupt Practices Act, and falsify Braskem’s records and financial reports to conceal bribes.
Prosecutors said that between 2002 and 2014, Grubisich and others helped divert $250 million from Braskem into a secret slush fund, which was held in an Odebrecht business unit that “effectively functioned as a stand-alone bribe department.”
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