Former Braskem CEO Sentenced for Bribery Charges in U.S.

- Advertisement -


Jose Carlos Grubicic was sentenced to 20 months in prison

- Advertisement -

The Justice Department said Mr Grubisch was also ordered to forfeit $2.2 million and pay a fine of $1 million.

- Advertisement -

“Jose Carlos is an extraordinary man who was placed in an impossible position during his time at Brascam, and today’s court sentence reflects that,” his attorneys Edward Kim and Paul Schechman said in an email. “Jose Carlos has consistently dedicated himself to helping those around him, and he looks forward to continuing that good work for years to come.”

Prosecutors alleged that between 2002 and 2014, Mr. Grubisch, acting as CEO and board member of Braskem, was involved in a scheme that extorted millions of dollars from Brascam to bribe government officials and political parties. turned it into a stash. in Brazil.

- Advertisement -

In a court statement in April, Mr Grubicic admitted to knowing about and consenting to bribing an unidentified official at Brazil’s state-controlled Petroleo Brasileiro. Per,

Following a 2005 contract with Brascam to operate a polypropylene plant, also known as Petrobras.

The FCPA prohibits US-affiliated companies from bribing foreign officials to gain business profits.

In 2016, Brascam and its parent company, Odebrecht SA, agreed to pay a combined fine of at least $3.5 billion to officials in the US, Brazil and Switzerland to resolve charges related to the bribery scheme.

In the US, both companies pleaded guilty to conspiring to violate the FCPA’s anti-bribery provision.

Mengqi Sun at [email protected]

.

- Advertisement -

Stay on top - Get the daily news in your inbox

DMCA / Correction Notice

Recent Articles

Related Stories

Stay on top - Get the daily news in your inbox