Former Braskem CEO charged with FCPA and money laundering conspiracies
The DOJ
unsealed an indictment Wednesday charging the former chief executive officer of Braskem S.A. with helping his company and Odebrecht S.A. amass a giant slush fund and use it to bribe officials and political parties in Brazil.
Jose Carlos Grubisich, 62,
a Brazil citizen, was charged in federal court in Brooklyn, New York.
He faces one count of conspiracy to violate the anti-bribery provisions of the Foreign Corrupt Practices Act,
one count of conspiracy to violate the FCPA’s books and records provisions and falsely certifying financial reports, and one count of conspiracy to commit international money laundering.
Grubisich
was CEO of Braskem from 2002 to 2008. He served on the petrochemical giant’s board of directors from 2010 to 2012, and as a consultant to Odebrecht from 2012 until 2015.
Braskem’s controlling shareholder is Odebrecht, a Brazilian construction firm, with nearly 40 percent ownership and just over 50 percent of the voting shares.
Brazil’s state energy company, Petroleo Brasileiro S.A. (Petrobras), owns about a third of Braskem.
Grubisich was arrested Wednesday morning, the DOJ said.
The FCPA Blog