Finance

Odebrecht ‘to give Panama US$59m’ it paid in bribes

Odebrecht ‘to give Panama US$59m’ it paid in bribes January 4, 2018Leave a comment
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PANAMA CITY (Panama): The Brazilian construction company Odebrecht can pay the Panamanian government more than US$59 million it given out in alleged bribes to secure public contracts, Panama’s attorney general said Thursday.

“I’ve received sophisticated commitment, delivered verbally, to soon hand over the 1st US$59 million paid as bribes to Panamanian individuals and entities,” Kenia Porcell told reporters.

Odebrecht, she said, “has demonstrated a wish to cooperate effectively” with Panama’s probe into your bribe payments, documented by the US Justice Department recently.

According on the US department, the Brazilian company paid a lot more than US$59 million in bribes to Panama between 2010 and 2014 to get contracts priced at US$175 million.

Panama’s current government is accusing the first sort administration of former president Ricardo Martinelli of involvement in Odebrecht’s alleged bribery.

Two of Martinelli’s sons have denied Brazilian newspaper reports that they received US$6 million should have been a bribe from Odebrecht for their father.

Prosecutors have ordered an exploration of Martinelli, and also of a certified, Carlos Ho Gonzalez, appointed because of the preceding president, Martin Torrijos.

Martinelli, who denies the charges, lives in voluntary exile in Miami. The Panamanian government has requested his extradition on allegations of espionage and corruption.

Panama has barred Odebrecht from bidding for future public tenders, and was aiming to remove the company from projects it had become already linked to.

They feature a new type of Panama City’s metro system, a fourth bridge covering the Panama Canal and afford a hydroelectric dam that will now be scrapped.

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