Odebrecht SA has signaled its executives will seek a plea bargain in Brazil’s largest-ever corruption case, after its former chief executive officer was sentenced to 19 years in prison.
In a statement entitled “Commitment to Brazil” posted on its website, the construction and engineering conglomerate says it decided in favor of a “definitive cooperation” with the so-called Carwash probe. The statement follows negotiations that started in December for the company to sign a leniency agreement that would ease restrictions on its business. The company’s press officials didn’t immediately reply to requests for further comment.
Brazilian police carried out 15 arrest and 28 detention warrants on Tuesday related to a department at Odebrecht that authorities described as specializing in bribes. In addition to kickbacks, state-run oil company Petrobras, police and prosecutors are investigating possible payoffs at two multi-billion dollar projects related to the 2016 Olympic Games in Rio de Janeiro, according to court documents.
Brazil Energy Insight 
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