Colombia: Odebrecht fined $50 mn in Colombia over corruption

Brazilian construction giant Odebrecht, which recently changed its name to Novonor, must pay a $50 million fine over corruption related to construction of a highway in Colombia, authorities announced on Monday.

The company was fined “for implementing a system restricting free competition” related to a 520-kilometer (325-mile) section of the Ruta del Sol highway from the center to the north of the country, Colombia’s industry and commerce regulatory agency said.

Odebrecht and its local partners Corficolombiana and Episol “diverted resources from the execution of the contract” to pay a $6.5 million bribe to Gabriel Garcia, a government official who helped them win the contract, the agency said.

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