26 Feb 2019
Prosecutors raided locations across the Netherlands on Tuesday as part of an investigation into the alleged use of shell companies to distribute $100 million in bribes on behalf of Brazilian conglomerate Odebrecht SA.
Data and financial records were seized from half a dozen homes and businesses, the Dutch financial prosecutors said. A 48-year-old man was detained near the town of Leiden. They did not name any of the businesses being investigated.
“It is suspected that Dutch corporate entities were used on a large scale to facilitate bribes,” they said. The bribes were paid by Odebrecht “and were most likely intended for foreign bureaucrats and political parties.”
By Anthony Deutsch, Reuters, 26 February 2019
Link to Reuters
Count reading this article to your CPD minutes, by signing up to our CPD WalletFREE CPD Wallet