Ex-Braskem CEO Cops To Petrobras Bribery Charges

By Stewart Bishop (April 15, 2021, 5:37 PM EDT) -- The former CEO of Braskem SA on Thursday admitted to Foreign Corrupt Practices Act violations via a scheme to bribe an official of Brazil's state-owned oil and gas company Petrobras in order to maintain a contract for a petrochemical plant.

At a morning plea hearing conducted in person before U.S. District Judge Raymond Dearie in Brooklyn, Jose Carlos Grubisich, 64, of Sao Paulo, Brazil, pled guilty to two counts of conspiracy to violate the FCPA.

Prosecutors say Grubisich was part of a scheme with employees of Brazilian construction conglomerate Odebrecht SA and subsidiary Braskem to divert $250 million of Braskem's funds...

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