Former Braskem President Blamed for US Justice-Economy

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Former President of Petrochemicals Braskem And yes Eldorado CelluloseBrazil executive Jose Carlos Grubisich Convicted on Thursday, 15, when Braskem and his controller ruled on charges of participating in a bribery scheme involving the group Odebrecht. Grubisich was arrested while on leave AmericaAt the end of 2019, and has since responded to a lawsuit in the country.

According to the prosecution, Grubisich participated in a tuition payment scheme, which lasted for 13 years, until 2014 – practices were also investigated Brazil, for Operation Car Wash, gives Federal police. During this period, the executive helped extract approximately US $ 250 million from Braskam’s operations, which functioned as an ill-paid department.

In addition to agreeing to return the 64-year-old the equivalent of $ 2 million, the 64-year-old could face a sentence of up to ten years on two conspiracy charges. Grubisich’s sentence is expected to be handed down on 5 August Nova York. Wanted, not found by attorneys for former President of Braskem Reuters.

In December 2016, Braskem and Odebrecht agreed to pay US $ 3.5 billion in an agreement related to bribe payments jointly investigated by authorities in Brazil and the United States. Switzerland. Braskem is still part of Odebrecht (now renamed) Novonor), Which intends to sell the business to reduce its indebtedness.

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Sarah Gracie

About the author: Sarah Gracie

Sarahis a reporter covering Amazon. She previously covered tech and transportation, and she broke stories on Uber's finances, self-driving car program, and cultural crisis. Before that, she covered cybersecurity in finance. Sarah's work has appeared in The Wall Street Journal, Bloomberg, Politico, and the Houston Chronicle.

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