Odebrecht jailed for 19 years
MARCELO ODEBRECHT, former CEO of the Brazilian construction giant who was feted in Panama by successive governments, and showered with contracts totaling over $9 billion, has been sentenced to 19 years and 4 months in prison for crimes of corruption, money laundering and links with a criminal gang in the Petrobas corruption scandal.
Rogério Araújo, Márcio Faria, César Rocha and Alexandrino Alencar, executives of Norberto Odebrecht, were also convicted.
Odebrecht was convicted of paying more than $30m in bribes to Petrobras officials in exchange for contracts and influence.
The Odebrecht group is Latin America’s biggest construction conglomerate.
The Petrobras inquiry has led to proceedings against dozens of business executives and ruling party figures.
Last week former President Luiz Inacio Lula da Silva, also from the governing Worker’s Party, was detained and questioned for his alleged role in the affair. Reports the BBC
Lula, 70, is suspected of receiving about 30m reais ($8m) in speaking fees and donations to his charity, the Lula Institute.
The party has held the Brazilian presidency since 2003, both under Lula and his successor Dilma Rousseff.
Odebrecht was one of Brazil’s richest and most powerful businessmen – with close relations to many top politicians.
He had been in prison since last June and stepped down last December from the firm – which was founded by his family.
The firm built major projects across the continent and in Africa and before the scandal had 181,000 employees in 21 countries.
The corruption scandal has cost Petrobras over $16bn, including $2bn that went straight to corrupt executives and firms.
Petrobras’ investments alone represent 2% of Brazil’s gross national product, and its downturn has harmed a national economy struggling as a result of low commodity prices.
PANAMA LINKS
The Odebrecht construction company is the prime contractor for the Panamanian government, public works totaling just over $ 9 billion.
The relationship between Odebrecht and the Government of Panama began during the presidential five years of Martin Torrijos, with projects such as Remigio Rojas irrigation system and the first phase of the Cinta Costera. The Martinelli government continued the hand out of contracts with an immediate $52 million direct contract for Cinta Costera 2, and over $750 million for the third stage, although opponents cited lower cost alternatives asn in face of opposition from UNESCO. Ricardo Martinelli overruled all protests.
The Brazilian scandal touched Panama when Odebrecht employee Fernando Micliaccio Da Silva, employee-identified as the person who controlled the bank accounts of the company Constructora Internacional del Sur, SA- was arrested in Switzerland .He was the person in charge of handling more than $ 47 million dollars deposited in Panamanian to fund companies linked to Odebrecht.
