Defaulting  Odebrecht will pay millions more

 
496Views 1Comments Posted 08/01/2021

The failure to pay the fines that Odebrecht had agreed to pay in 2019 and 2020,  imposed for using the country's financial system to launder money and distribute bribes, were revealed in a virtual press conference by the Anti-Corruption Prosecutor's Office on Friday        January 8.will cost the Brazilian constnruction company millions more.

The anti-corruption prosecutor Anilú Batista explained that in 2019, the construction company only paid $ 1.1 million, but had to pay $18.3 million, while in 2020 it did not pay anything.

She announced that they will apply the provision of the agreement ida(from November 2017) that says that an additional 5% will be charged for the amounts not paid annually.

The compliance section of the Public Ministry will be responsible for requesting a control hearing to analyze the matter. According to the prosecutor, they will do so once the judicial terms that are on pause by Covid-19 are restored.

The investigation ended last October with 101 defendants divided as follows: 61 structuring agents, 22 front men, and 18 final beneficiaries. Of those 18 final beneficiaries, 14 were civil servants, as explained by prosecutor Tania Sterling.

In total, the Brazilian construction company issued 251 "payment orders for illicit money."

 

Among the accused in the process are former presidents blic Ricardo Martinelli (2009-2014), Juan Carlos Varela (2014-2019), as well as several former ministers, other officials who held key positions, and individuals.

 

So far, the government of Panama has recovered $48,051,571 as a result of the investigation into the payment of bribes from Odebrecht to officials and individuals. The money seized in accounts totals $21.3 million and in assets $15.3 million


Comments 1

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George Klk

Panama | Recovering Panama's Laundered Money! Brazil's Odebrecht continues construction activities in Panama. Panama happily brings in multi-billion dollar construction deals with Odebrecht. Upon near completion...Panama faults Odebrecht and makes...non-payments. Plenty of legal delays costing Brazil's Odebrecht $100's millions for various projects. Odebrecht develops a bad reputation with their investors and community. Odebrecht is left holding massive loans...Panama returns the favor and now has...leverage! Panama gets some free work based on construction faults oversight errors...language mix up? Odebrecht become desperate and knows Panama is playing the same game. All Panamanians enjoy a little more juicy hams while the political elites enjoy new luxuries. More fine wine and possibly a leisurely trip to...China's finest restaurants! Panama politicians are clever enough, should at least be able to recovery knowing the games of deceit!

16 days ago
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