Local links to Odebrecht corruption scandal

THE BRAZILIAN Corruption Storm with the Odebrecht construction giant close to its epi-center   continues to send shock waves around the world including Panama where the company has garnered over $8 billion in contracts from successive governments.

More Panamanian corporations have been linked to the alleged payment of bribes by Odebrecht to Petrobras executives.

Tudor Advisory Inc. and Rockfield International S.A. were allegedly used to pay the bribes and conceal the illicit origin of the money, according to documents filed in the “Lava Jato” (Car wash) case in Brazil.

Tudor Advisory opened an account on Feb. 19, 2009, at a Swiss bank whose ultimate beneficiary was Jorge Luiz Zelada.

Rockfield International opened accounts in Monaco. Its beneficiary was  also Zelada.

Tudor Advisory Inc. was registered on Sept. 12, 2009. The resident agent is the Panamanian law firm Alemán, Cordero, Galindo & Lee reports La Prensa.

Zelada, who was jailed in July, is accused of coordinating the illegal movements of funds to Petrobras officials and politicians.

Activities by the two companies have been characterized as showing a “high evidence of corruption,” court documents said.

The companies received funds from companies based in Antigua, Belize and other offshore jurisdictions.

Tudor Advisory received more than $3 million between May and August 2011.

Odebrecht has recently been given contracts totaling over $2 billion for the construction of Metro Line 2 and a major re- development project in Colon Panama has not responded to rquests from Brazil requests in March for help with its investigations