8chan/8kun QResearch Posts (3)
#14785224 at 2021-10-14 19:34:02 (UTC+1)
Q Research General #18702: EBake Biblical Edition
Former Brazilian CEO Sentenced to 20 Months for Bribery Conspiracy
Former Brazilian CEO Sentenced to 20 Months for Bribery Conspiracy
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Published: 14 October 2021
Written by Henry Pope
A former chief executive officer (CEO) of Braskem S.A., a Brazilian petrochemical company, was sentenced in a New York court on Tuesday to 20 months in prison for his role in a conspiracy to use US$250 million of his former company's money to bribe government officials.
Jose Carlos grubisich, 64, of Brazil, pleaded guilty in April to diverting the sum from Braskem into a secret slush fund from which he bribed Brazilian government officials and political parties into supporting Braskem's financial and political interests, according to the U.S. Department of Justice (DOJ).
A slush fund is commonly known as a reserve of money used for illicit purposes, particularly political bribery. The one grubisich managed in this case was known as Caixa dois (Caixa 2).
Between 2002 and 2014, grubisich, who was simultaneously working as Braskem's CEO and in various capacities for its parent company Odebrecht S.A., sourced the money for the slush fund via fraudulent commissions, contracts, and offshore shell companies secretly controlled by Braskem, according to court documents.
Odebrecht - now known as Novonor - is a Brazilian conglomerate which consists of multiple businesses specializing in engineering, construction, energy, and petrochemicals. The company is known for its involvement in what many call the one of the biggest corruption cases in history.
In entering his guilty plea, grubisich confessed that while acting as Braskem's CEO, he sanctioned the bribery of Brazilian government officials to ensure his company's retention of a significant petrochemical contract from Petroleo Brasileiro S.A. (Petrobras), Brazil's state-owned and state-controlled oil company.
"As CEO of a publicly traded company, grubisich and other senior executives at Braskem engaged in a large-scale, sophisticated international bribery and fraud scheme and then lied to U.S. shareholders and authorities to conceal their criminal conduct," said Nicholas L. McQuaid, Acting Assistant Attorney General of the Justice Department's Criminal Division.
In addition to his prison sentence, grubisich has been ordered by the court to forfeit $2.2 million in restitution as well as pay a $1 million fine.
The Odebrecht corruption scandal costed the conglomerate billions of dollars in penalties and in one case in 2016, both Odebrecht and Braskem were fined by the DOJ a combined $3.5 billion for bribing government officials around the world with hundreds of millions of dollars, in what was then known as the Petrobras Scandal.
Odebrecht's involvement in the scandal originates back to 2001. By 2006, the intrinsic nature of their bribery operations necessitated its own corporate division, dubbed the "Division of Structured Operations," according to a DOJ statement made at the time of the company's guilty plea.
The investigation, conducted by a Federal Police of Brazil task force, was humorously dubbed 'Operation Car Wash' because authorities first caught on to the scandal while conducting a money-laundering investigation into a car wash in Bras?lia.
https://www.occrp.org/en/daily/15333-former-brazilian-ceo-sentenced-to-20-months-for-bribery-conspiracy
#13442213 at 2021-04-16 23:23:46 (UTC+1)
Q Research General #17027: And We Find The Strength United Edition
Department of Justice Office of Public Affairs Thursday, April 15, 2021
Former Chief Executive Officer of Publicly Traded Petrochemical Company Pleads Guilty to Foreign Bribery and Securities Law Violations
A Brazilian national who previously served as a chief executive officer (CEO) of Braskem S.A. (Braskem), a publicly traded Brazilian petrochemical company, pleaded guilty today to conspiring to divert hundreds of millions of dollars from Braskem into a secret slush fund and to pay bribes to government officials, political parties, and others in Brazil to obtain and retain business.
According to court documents, between approximately 2002 and 2014, Jose Carlos grubisich, 64, a citizen of Brazil - who served as the CEO and a member of the board of directors of Braskem as well as in various capacities for Braskem's parent company, Odebrecht S.A. (Odebrecht) - engaged in a scheme to bribe Brazilian government officials in violation of the Foreign Corrupt Practices Act (FCPA). As part of the scheme, grubisich and his co-conspirators diverted approximately $250 million from Braskem into a secret slush fund, which grubisich and others had generated through fraudulent contracts and offshore shell companies secretly controlled by Braskem.
grubisich admitted that while CEO of Braskem, he agreed to pay bribes to Brazilian government officials to ensure Braskem's retention of a contract for a significant petrochemical project from Petroleo Brasileiro S.A. (Petrobras), Brazil's state-owned and state-controlled oil company. grubisich also admitted that, as Braskem's CEO, he falsified Braskem's books and records by falsely recording the payments to Braskem's offshore shell companies as payments for legitimate services. grubisich also signed false Sarbanes-Oxley certifications submitted to the U.S. Securities and Exchange Commission (SEC) that, among other things, attested that Braskem's annual reports fairly and accurately represented Braskem's financial condition, and that grubisich, as Braskem's principal officer, had disclosed all fraudulent conduct by Braskem's management and other employees with control over Braskem's financial reporting.
"As CEO of a publicly traded company, grubisich and other senior executives at Braskem engaged in a large-scale, sophisticated international bribery and fraud scheme and then lied to U.S. shareholders and authorities to conceal their criminal conduct," said Acting Assistant Attorney General Nicholas L. McQuaid of the Justice Department's Criminal Division. "Today's guilty plea demonstrates the Department's commitment to holding individuals accountable for corrupt and fraudulent conduct, including those at the highest corporate echelons." "grubisich abused his position of trust as CEO of Braskem to both facilitate and conceal the payment of millions of dollars in bribes so that Braskem could increase its profits and its senior executives - including grubisich himself - could personally benefit," said Acting U.S. Attorney Mark J. Lesko of the Eastern District of New York. "This office is committed to the prosecution of corrupt gatekeepers, including officers and directors of public companies, who, like grubisich, use the United States' financial system to commit crimes."
grubisich pleaded guilty to one count of conspiracy to violate the anti-bribery provisions of the FCPA and one count of conspiracy to violate the books and records provision of the FCPA and to fail to accurately certify Braskem's financial reports. grubisich has also agreed to pay approximately $2.2 million in forfeiture. He is scheduled to be sentenced on Aug. 5, and faces a maximum penalty of 10 years in prison.
In December 2016, Braskem and Odebrecht each pleaded guilty in the Eastern District of New York to separate one-count criminal informations charging them with conspiracy to violate the anti-bribery provisions of the FCPA. Braskem settled with the SEC in related proceedings on the same day.
The FBI's International Corruption squad in New York is investigating the case. The Justice Department's Office of International Affairs also provided substantial assistance. The department also expresses its appreciation for the assistance provided by the SEC's Division of Enforcement, Ministério Público Federal and the Departamento de Polícia Federal in Brazil, the Office of the Attorney General in Switzerland, the Swiss Federal Office of Justice, and the governments of Portugal, Andorra, United Kingdom, and Panama.
https://www.justice.gov/opa/pr/former-chief-executive-officer-publicly-traded-petrochemical-company-pleads-guilty-foreign
#13432117 at 2021-04-15 17:21:16 (UTC+1)
Q Research General #17014: #StopThePack - Court Edition
Department of Justice
Office of Public Affairs
FOR IMMEDIATE RELEASE
Thursday, April 15, 2021
Former Chief Executive Officer of Publicly Traded Petrochemical Company Pleads Guilty to Foreign Bribery and Securities Law Violations
A Brazilian national who previously served as a chief executive officer (CEO) of Braskem S.A. (Braskem), a publicly traded Brazilian petrochemical company, pleaded guilty today to conspiring to divert hundreds of millions of dollars from Braskem into a secret slush fund and to pay bribes to government officials, political parties, and others in Brazil to obtain and retain business.
According to court documents, between approximately 2002 and 2014, Jose Carlos grubisich, 64, a citizen of Brazil - who served as the CEO and a member of the board of directors of Braskem as well as in various capacities for Braskem's parent company, Odebrecht S.A. (Odebrecht) - engaged in a scheme to bribe Brazilian government officials in violation of the Foreign Corrupt Practices Act (FCPA). As part of the scheme, grubisich and his co-conspirators diverted approximately $250 million from Braskem into a secret slush fund, which grubisich and others had generated through fraudulent contracts and offshore shell companies secretly controlled by Braskem.
grubisich admitted that while CEO of Braskem, he agreed to pay bribes to Brazilian government officials to ensure Braskem's retention of a contract for a significant petrochemical project from Petroleo Brasileiro S.A. (Petrobras), Brazil's state-owned and state-controlled oil company. grubisich also admitted that, as Braskem's CEO, he falsified Braskem's books and records by falsely recording the payments to Braskem's offshore shell companies as payments for legitimate services. grubisich also signed false Sarbanes-Oxley certifications submitted to the U.S. Securities and Exchange Commission (SEC) that, among other things, attested that Braskem's annual reports fairly and accurately represented Braskem's financial condition, and that grubisich, as Braskem's principal officer, had disclosed all fraudulent conduct by Braskem's management and other employees with control over Braskem's financial reporting.
"As CEO of a publicly traded company, grubisich and other senior executives at Braskem engaged in a large-scale, sophisticated international bribery and fraud scheme and then lied to U.S. shareholders and authorities to conceal their criminal conduct," said Acting Assistant Attorney General Nicholas L. McQuaid of the Justice Department's Criminal Division. "Today's guilty plea demonstrates the Department's commitment to holding individuals accountable for corrupt and fraudulent conduct, including those at the highest corporate echelons."
"grubisich abused his position of trust as CEO of Braskem to both facilitate and conceal the payment of millions of dollars in bribes so that Braskem could increase its profits and its senior executives - including grubisich himself - could personally benefit," said Acting U.S. Attorney Mark J. Lesko of the Eastern District of New York. "This office is committed to the prosecution of corrupt gatekeepers, including officers and directors of public companies, who, like grubisich, use the United States' financial system to commit crimes."
grubisich pleaded guilty to one count of conspiracy to violate the anti-bribery provisions of the FCPA and one count of conspiracy to violate the books and records provision of the FCPA and to fail to accurately certify Braskem's financial reports. grubisich has also agreed to pay approximately $2.2 million in forfeiture. He is scheduled to be sentenced on Aug. 5, and faces a maximum penalty of 10 years in prison. Any sentence will be determined after considering the U.S. Sentencing Guidelines and other statutory factors.
In December 2016, Braskem and Odebrecht each pleaded guilty in the Eastern District of New York to separate one-count criminal informations charging them with conspiracy to violate the anti-bribery provisions of the FCPA. Braskem settled with the SEC in related proceedings on the same day.
The FBI's International Corruption squad in New York is investigating the case. The Justice Department's Office of International Affairs also provided substantial assistance. The department also expresses its appreciation for the assistance provided by the SEC's Division of Enforcement, Ministério Público Federal and the Departamento de Polícia Federal in Brazil, the Office of the Attorney General in Switzerland, the Swiss Federal Office of Justice, and the governments of Portugal, Andorra, United Kingdom, and Panama.
Assistant Chief Lorinda Laryea and Trial Attorney Leila Babaeva of the Criminal Division's Fraud Section and Assistant U.S. Attorneys Julia Nestor and Alixandra Smith of the Eastern District of New York are prosecuting the case, with Assistant U.S. Attorney Laura Mantell of the Eastern District's Civil Division handling forfeiture matters.