Dutch shell firms used to pay millions in Brazilian bribes: prosecutors
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 this content towards your CPD minutes, by signing up to our CPD Wallet


You must be logged in to post a comment.

This site uses Akismet to reduce spam. Learn how your comment data is processed.