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Ex-Braskem CEO Pleads Guilty in $250 Million Bribery Case

  • Grubisich caught up in plot U.S. said also involved Odebrecht
  • It’s latest chapter in sprawling Petrobras corruption scandal
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The former chief executive officer of Braskem SA, Brazil’s largest petrochemicals company, admitted he took part in a sweeping bribery plot the U.S. said also involved Braskem’s parent company, Odebrecht SA.

Jose Carlos Grubisich, 64, pleaded guilty on Thursday to two counts of conspiracy to violate U.S. anti-bribery laws, acknowledging that he approved a $4.3 million payoff to an official of the state-owned energy company Petroleo Brasileiro SA for rights to build and operate a plant. Even under the deal he struck with prosecutors, Grubisich faces as long as 10 years in prison. His plea is the latest chapter in a sprawling corruption scandal centered on Petrobras.