All Braskem articles

  • Braskem
    Article

    Ex-Braskem CEO gets 20 months in prison over bribery scheme

    2021-10-12T21:36:00Z

    Jose Carlos Grubisich was sentenced to 20 months in prison for his role in a scheme to divert hundreds of millions of dollars in bribe payments from Braskem to government officials and political parties in Brazil.

  • Article

    Ex-Braskem CEO pleads guilty for role in bribery scheme

    2021-04-16T15:44:00Z

    The former CEO of Brazilian petrochemical giant Braskem pleaded guilty for his role in a scheme to divert hundreds of millions of dollars in bribe payments from the company to government officials and political parties in Brazil.

  • Article

    Braskem self-reports probe into ‘improper payments’

    2021-03-15T16:45:00Z

    Brazil-based petrochemical giant Braskem disclosed the launch of an internal investigation into allegations of “improper payments” related to an ethane supply project in Mexico.

  • Article

    Braskem board approves $101M leniency agreement

    2019-05-28T19:18:00Z

    Braskem has approved a 410 million reais (U.S. $101 million) leniency agreement with authorities for concealing its role in a bribery scheme involving Petrobras.

  • Blog

    Irony, FCPA enforcement actions, and M&A

    2018-07-09T11:30:00Z

    Boeing’s planned acquisition of Brazilian company Embraer’s commercial jet business and LyondellBassell’s possible acquisition of Brazilian entity Braskem highlights an ironic twist to the FCPA: An enforcement action could be so financially draining that your company is forced to sell all or parts of itself, but results from that same ...

  • Blog

    Braskem settles bribery class action for $10 million

    2017-09-15T14:15:00Z

    Brazil-based petrochemical giant Braskem has reached a $10 million proposed settlement with U.S. investors for concealing its role in a bribery scheme involving state-owned oil company Petrobras.

  • Blog

    U.S. judge orders Odebrecht to pay $2.6B in global bribery case

    2017-04-18T12:15:00Z

    A U.S. federal judge this week ordered Odebrecht to pay $2.6 billion in fines for violations of the Foreign Corrupt Practices Act, securing a plea deal reached last year with authorities in the United States, Brazil, and Switzerland.

  • Blog

    Odebrecht-US leads a massive global corruption settlement

    2016-12-23T15:45:00Z

    The Odebrecht and Braskem global corruption settlements portend a new level of international cooperation in both investigation and enforcement.

  • Blog

    Odebrecht, Braskem to pay record $3.5B in global bribery case

    2016-12-22T12:15:00Z

    Global construction company Odebrecht, based in Brazil, and Brazilian petrochemical company Braskem pleaded guilty yesterday and agreed to pay a combined total penalty of at least $3.5 billion—the largest foreign bribery case in history, according to the U.S. Department of Justice. Jaclyn Jaeger has more.

  • Blog

    Braskem to pay $957M settlement in Petrobras corruption probe

    2016-12-15T09:15:00Z

    Brazil-based petrochemical giant Braskem disclosed yesterday that it will pay a total amount of approximately US$957 million in penalties and damages to resolve a global settlement related to the massive corruption probe surrounding state-owned oil company Petrobras. Jaclyn Jaeger has more.