The court ruling that imposed a 19 year prison sentence has forced a review of the projects being managed by the company in the region, where two projects which are underway in Panama alone, total $2.4 billion.
On March 8th the Brazilian justice system condemned Marcelo Odebrecht, former CEO of the largest Brazilian construction company, Odebrecht, to 19 years and 4 months in prison and to pay a fine of $35 million along with executives from the group for the payment of about $65 million in bribes to officials in the case of corruption in the state run oil company Petrobras, reported La Prensa. The ruling mentioned fraud in tenders, where bribes were also paid for the award of the works.
Costa Rica's Banco Nacional has been sentenced to pay compensation to 66 notaries for alleged breaches in finalizing their contracts.
The ruling by the Administrative Court, which is not yet firm, represents 30% of the bank's expected profits for 2013, and restricts the entity's ability to increase its loan portfolio.
An ex President, high ranking public officers and distinguished businessmen are sentenced for corruption and peculation in Costa Rica.
When justifying the sentence, the judges told of how a group of powerful politicians from a prominent party conformed a criminal gang which developed an entire operation using assets of the State, among them Legislative Assembly and Social Security, to make money with illegal commissions paid by foreign and domestic dishonest businessmen.
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