LatinNews Regional Monitor: Brazil & Southern Cone - 20 June 2018

* According to local media, Odebrecht, the Brazilian engineering company which has been involved in an international government corruption scandal affecting 10 countries in Latin America and Africa, has agreed to pay R$7m (US$1.8m) to the authorities in the city of São Paulo after a fraud investigation. Odebrecht has admitted being part of a cartel that signed fraudulent contracts for public works between 2008-2011 under former mayor Gilberto Kassab, who is now the federal science & technology minister. According to public prosecutor Silvio Marques, the cartel led by Odebrecht defrauded the authorities to the tune of R$4bn (US$1.07bn). Under the terms of the agreement that Odebrecht reached with the authorities, the firm will collaborate with authorities to find evidence against other members of the cartel.

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