Odebrecht Sued by Panama for Failing to Pay Part of $220 Million Fine Over Corruption and Bribery Agreement

Written by Flavia Marinho

Published on 13/01/2021 at 13:45

Updated on 13/01/2021 at 13:46

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Panama Prohibited Odebrecht From Participating in New Public Works Bids in the Country Until the Brazilian Construction Company Pays Back the Embezzled Money.

The Attorney General of Panama, Eduardo Ulloa, announced last Tuesday that he will prosecute Odebrecht for not paying a portion of the $220 million fine established in an agreement signed as part of the investigation into bribes paid by the company in exchange for public contracts. Odebrecht Loses in Court Control of Atvos, One of the Largest Ethanol Producers in Brazil

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In July 2017, the Attorney General’s Office of Panama and Odebrecht signed an agreement in which the company committed to paying a $220 million fine within 12 years, which was validated by a Panamanian court.

In an “initial analysis” conducted by the Public Ministry (MP-Procuradoria), it was “concluded that Odebrecht did not comply with the agreement and did not pay its share in the years 2019 and 2020,” said the head of the judicial institution.

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“For this reason, the anti-corruption prosecutors are already requesting the corresponding hearing to demand that the company comply with the agreement in court,” he added.

Ulloa also stated that in the coming weeks, the prosecutor’s hearing regarding the construction company will be submitted to the courts, something that was scheduled for last December but could not happen because the pandemic delayed the preparation of the files, he explained.

Sources from Odebrecht explained to Efe that the Panamanian state owes this company $108 million for the payment of works that it is currently carrying out, while the part of the fine claimed by the Attorney General is $18 million.

The same sources assured that they recently established formal contacts with the Ministry of Economy and Finance of Panama for these $18 million to be deducted from the $108 million owed to Odebrecht.

About the Corruption and Bribery Case of Odebrecht in Panama

The investigation into the Odebrecht case in Panama was concluded in October 2020 with a hundred defendants, but none convicted to date.

Among those accused of money laundering in the Odebrecht case are former presidents Ricardo Martinelli (2009-2014), accused of demanding bribes from the company, and former president Juan Carlos Varela (2014-2019), accused of receiving illegal financing from the construction company for his electoral campaigns.

The Panama chapter of Transparency International (TI) indicated in a document that relatives of former presidents, several former state ministers, and former officials of the governments of Varela, Martinelli, and Martín Torrijos (2004-2009) are also accused.

It also warned that the trial could last for years, given the number of accused and their lawyers, around 180 people, which will make the notification process and the holding of the preliminary hearing complex, requiring the presence of all those involved. (I)

Odebrecht Sued by Panama for Failing to Pay Part of $220 Million Fine Over Corruption and Bribery Agreement

Panama Prohibited Odebrecht From Participating in New Public Works Bids in the Country Until the Brazilian Construction Company Pays Back the Embezzled Money.

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Odebrecht Sued by Panama for Failing to Pay Part of $220 Million Fine Over Corruption and Bribery Agreement

Panama Prohibited Odebrecht From Participating in New Public Works Bids in the Country Until the Brazilian Construction Company Pays Back the Embezzled Money.

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