United States: Former Braskem CEO Sentenced for Bribery Charges in U.S.

The former chief executive officer of Brazilian petrochemical company Braskem SA has been sentenced to 20 months in prison for his role in a scheme that diverted $250 million from the company to a slush fund to pay Brazilian government officials, the U.S. Justice Department said.

Tuesday’s sentencing of Jose Carlos Grubisich, a 64-year-old Brazilian citizen, at the federal court in Brooklyn, N.Y., comes after his guilty plea in April. He pleaded guilty to one count of conspiring to violate the antibribery provisions of the U.S. Foreign Corrupt Practices Act and one count of conspiring to violate the books and records provision of the FCPA and failing to accurately certify Braskem’s financial reports as a corporate officer, the Justice Department said.

Mr. Grubisich was also ordered to forfeit $2.2 million and pay a $1 million fine, the Justice Department said.

This article was originally posted on wsj.com

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