INTER-AMERICAN DEVELOPMENT BANK DEBARS BRAZILIAN CONGLOMERATE FOR $60 MILLION KICKBACK SCHEME

A post on the FCPA Blog on 27 April reported (and provided details of) the 37-month debarment from IDB contracts of Andrade Gutierrez Engenharia S.A. and 11 subsidiaries for bribing public officials in connection with 4 IDB-financed projects in Brazil.  The company is said to have admitted that it schemed to bribe government officials in exchange for contract awards. It is reported that the debarment qualifies for cross-debarment by the World Bank, the Asian Development Bank, the European Bank for Reconstruction and Development, and the African Development Bank.

https://fcpablog.com/2020/04/27/idb-debars-brazilian-conglomerate-for-60-million-kickback-scheme/

All current IDB debarments are listed at –

https://www.iadb.org/en/transparency/sanctioned-firms-and-individuals

 

If you’d like to help to contribute to the cost of the new laptop and desktop I have had to acquire, now that I am 5,000 miles away from my originals – https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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