Finance

Panama bars Odebrecht from tenders after bribe allegations

Panama bars Odebrecht from tenders after bribe allegations August 18, 2018Leave a comment
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PANAMA CITY (Panama): Panama’s government said hello was barring the Brazilian construction giant Odebrecht from future public tenders right after the US Justice Department accused the company of bribes to secure business in Latin America.

In an assertion read from the minister within the presidency, Alvaro Aleman, the costa rica government said it will quickly “use the steps vital to prohibit the Odebrecht Group being awarded… any future contract from public bidding processes.”

The contract ban may last until Odebrecht demonstrates full cooperation with an investigation by prosecutors, and pays Panama for damages, he added.

Aleman also warned that Panama requires measures to ensure Odebrecht leaves bidding methodologies for that this had recently been cleared. They feature a new line of the Panama City metro along with a fourth bridge within the Panama Canal.

Panama will also scrap “without cost towards the state” a hydroelectric dam project that could have gotten the company and government interact with each other, he added.

The announcement came the same day Panamanian prosecutors flew for the Country seeking specifics of alleged Odebrecht bribes to officials with the Central American country.

The US Justice Department recently reported that Odebrecht had paid bribes worth billions of dollars to build contracts in nine Latin American countries.

It said throughout the construction company paid a lot more than US$59 million in bribes to Panama between 2010 and 2014 for getting contracts worth US$175 million.

Panama’s auditing office claimed it is investigating Carlos Ho Gonzalez, an old public works official. And other people still mitts with seen potentially suspicious income surges can even be investigated, as per the government.

Two sons of former president Ricardo Martinelli have denied Brazilian newspaper reports they had received US$6 million should have been a bribe from Odebrecht regarding their father.

Martinelli resides in voluntary exile in Miami. The Panamanian government has requested his extradition on allegations of espionage and corruption.

In Brazil, Odebrecht – a home-grown giant turned massive multinational – has figured prominently during the graft allegations and investigations that helped lessen the very last president, Dilma Rousseff, and plague today\’s government.

Dozens of Brazilian politicians have been charged with taking bribes from Odebrecht along with construction companies to line his or her pockets and boost party campaign funds so they could earn facilitating inflated contracts for that companies with Petrobras.

-AFP

 

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