Just how widespread was Odebrecht’s bribery?
So far, ten issuers have identified Odebrecht or subsidiaries as intermediaries in FCPA-related disclosures, according to FCPA Tracker.
In July, three fund managers and a national government (Peru) said in SEC filings that Odebrecht’s corruption scandal has become a problem and a risk factor for them.
Brazil-based Odebrecht, an engineering and construction giant, agreed last year to settle bribery offenses by paying global criminal penalties of at least $2.6 billion.
Ten percent of that amount was earmarked for the United States, 80 percent for Brazil, and 10 percent for Switzerland.
The DOJ later reduced Odebrecht’s U.S. criminal penalty from $260 million to $93 million. The DOJ said Odebrecht’s ability to pay had been impaired because the company had lost big contracts in Peru, Colombia, and Panama.
Where did Odebrecht’s bribes go?
The BBC has now created a scoreboard.
The scoreboard is based on records and reports from the U.S. DOJ, El Pais, La Presnsa Gráfica, and a declaration of judicial co-operation signed by prosecutors in Brazil, the BBC said.
Here’s what the BBC found:
Bribes Odebrecht admitted paying:
Brazil – $349 million
Venezuela – $98 million
Deomincan Republic – $92 million
Panama – $59 million
Angola – $50 million
Argentina – $35 million
Ecuador – $33.5 million
Peru – $29 million
Guatemala – $18 million
Colombia – $11 million ($16 million more alleged by prosecutor)
Mexico – $10 million
Mozambique – $1 million
There are more allegations or investigations about Odebrech’s bribery in Antigua, El Salvador, Chile, and Portugal, according to the BBC.
Richard L. Cassin is the publisher and editor of the FCPA Blog.