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U.S. companies doing business in Latin America must ensure that they institute and maintain strong anti-corruption safeguards. These companies must be prepared to coordinate with regulators from multiple jurisdictions in the event that they are subject to an investigation.
The E.D.N.Y. has secured a guilty plea from the former CEO of Brazilian petrochemical company Braskem S.A. (Braskem). Jose Carlos Grubisich pleaded guilty to two counts of conspiring to violate the U.S. FCPA:
Conspiring to violate the anti-bribery provisions of the FCPA.
Conspiring to violate the books and records provisions of the FCPA in failing to accurately certify Braskem’s financial reports.
Imperial Valley News Imperial Valley News Center Former Chief Executive Officer of Publicly Traded Petrochemical Company Pleads Guilty to Foreign Bribery and Securities Law Violations Details Written by DOJ
New York - A Brazilian national who previously served as a chief executive officer (CEO) of Braskem S.A. (Braskem), a publicly traded Brazilian petrochemical company, pleaded guilty to conspiring to divert hundreds of millions of dollars from Braskem into a secret slush fund and to pay bribes to government officials, political parties, and others in Brazil to obtain and retain business.
According to court documents, between approximately 2002 and 2014, Jose Carlos Grubisich, 64, a citizen of Brazil who served as the CEO and a member of the board of directors of Braskem as well as in various capacities for Braskem’s parent company, Odebrecht S.A. (Odebrecht) - engaged in a scheme to bribe Brazilian government officials in vi
By Jaclyn Jaeger2021-04-16T15:44:00+01:00
The former CEO of Brazilian petrochemical giant Braskem pleaded guilty Thursday for his role in a scheme to divert hundreds of millions of dollars in bribe payments from the company to government officials and political parties in Brazil.
Jose Carlos Grubisich, a citizen of Brazil, was charged with violations of the Foreign Corrupt Practices Act (FCPA) and failing “to accurately certify Braskem’s financial reports,” the Department of Justice said in a press release. In addition to his guilty plea, he agreed to pay approximately $2.2 million in forfeiture.
Grubisich, whose sentencing is scheduled for Aug. 5, faces up to 10 years in prison.
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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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