Swiss seize $100 million from Odebrecht.

564Views 0Comments Posted 25/12/2016

SOME $100 MILLION in accounts of companies under the control of Brazilian contractor Odebrecht has been seized by Swiss authorities.

They  say the funds were going to be used to pay bribes to officials and politicians in Brazil and 11 other Latin American countries ­ including Panama ­ and Africa.

That amount covers half of the $200 million fine Switzerland imposed on the company.

Odebrecht will also have to pay, in total, some $3.5 billion ­ including interest ­ for 23 years to the United


The bribes paid by Odebrecht and its petrochemical subsidiary Braskem in Brazil and in more than a

dozen countries in Latin America and Africa amount to more than $1 billion.

The company is alleged to have paid $59 million in bribes to Panama officials including $6 million to children of ex-president Ricardo Martinelli  between 2010 and 2014.

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