United States: Former Braskem CEO in Talks to Settle Bribery Charges

The former chief executive officer of Brazilian petrochemical company Braskem SA is in talks with U.S. prosecutors to settle charges stemming from his alleged role in a scheme to create a slush fund for illegal bribes, according to a court filing.

José Carlos Grubisich, Braskem’s CEO from 2002 through 2008, was arrested in November 2019 and charged with conspiring to violate provisions of the Foreign Corrupt Practices Act and commit money laundering.

After pleading not guilty, Mr. Grubisich was released on bail in March last year while he prepared for trial. His lawyer in a letter dated Wednesday asked a judge overseeing the case to delay a status conference, saying parties were engaged in discussions regarding a potential resolution of the case.

Mr. Grubisich’s lawyer and a spokesman for the U.S. attorney’s office for the Eastern District of New York, which is prosecuting the case, declined to comment. A Braskem spokeswoman declined to comment.

The original full article can be found at wsj.com


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