Marcelo Odebrecht

In this Portuguese name, the first or maternal family name is Bahia and the second or paternal family name is Odebrecht.
Marcelo Odebrecht
Odebrecht in 2009
Born
Marcelo Bahia Odebrecht

(1968-10-18) October 18, 1968 (age 56)
Salvador, Bahia, Brazil
Alma materUniversidade Federal da Bahia
OccupationBusinessman
TitleFormer CEO, Odebrecht
Term2008–2015
PredecessorEmilio Odebrecht
SuccessorNewton de Souza
Criminal statusHouse arrest after 2 years and six months in prison
RelativesNorberto Odebrecht (grandfather)
Criminal chargeActive Corruption, Criminal association and Money laundering
Penalty19 years and 4 months in prison

Marcelo Bahia Odebrecht (Brazilian Portuguese: [maʁˈsɛlu baˈjɐ odɛˈbɾɛ(t)ʃ]; born 18 October 1968) is a Brazilian businessman and the former CEO of Odebrecht, a diversified Brazilian Conglomerate. In March 2016, he was sentenced to 19 years in prison for paying more than $30 million in bribes. The jail sentence was reduced to ten years in prison in December 2016 for paying a fine, admitting guilt and providing evidence to authorities.[1][needs update]

Early life

He was born in October 1968,[2] the son of Emílio Odebrecht and Regina Bahia,[3] and the grandson of Norberto Odebrecht, the company's founder.[4] They trace their descent from a family of German immigrants to Brazil in the 1850s.[4]

Career

After received a bachelor's degree in civil engineering from Universidade Federal da Bahia (UFBA), Marcelo joined Odebrecht in 1992, and was appointed CEO in 2008.[5]

He became vice president of the Brazilian Association of Infra-Structure and Primary Industry (ABDIB) in 2005, and vice president of COINFRA, FIESP in 2004. He is chairman of Odebrecht Óleo E Gás, Odebrecht Realizações Imobiliárias, Foz Do Brasil and Eth Bioenergia S.A. He is chairman of Braskem S.A. He serves is a director of the Exterior Commerce Chamber CONEX since 2005, a member of the strategic superior board of Federação das Indústrias do Estado de São Paulo (FIESP) since 2008 and a director of the Industry Development Study Institute, IEDI since 2003.[citation needed][needs update]

Operation Car Wash

Main article: List of scandals in Brazil

On 19 June 2015, he was arrested as part of a major investigation, Operation Car Wash (Portuguese: Operação Lava Jato), into corruption at the state-owned oil company Petrobras.[6] Otávio Azevedo, CEO of Andrade Gutierrez, Brazil's second largest construction firm, was also arrested, along with a total of ten others, including senior Odebrecht executives.[7] On 8 March 2016, he was sentenced to 19 years in prison, after being convicted of paying more than $30 million in bribes.[8][9]

On 5 November 2017, Marcelo Odebrecht, his father and his brother were named in the Paradise Papers, a set of confidential electronic documents relating to offshore investment, and was revealed that his company used at least one offshore company as a vehicle for the payment of bribes in the Operation Car Wash.[10]

In December 2017 he was released from jail on house arrest. This was part of a leniency deal in which he is paying a $2 billion fine, admitting guilt and providing evidence to authorities.[1]

In April 2022, the minister Edson Fachin reduced his sentence from 10 years to 7½ years, with that, Marcelo will have served his sentence and should be free of legal restrictions by the end of 2022.[11][12][13]

Personal life

He and his wife, Isabela, have three daughters.[3]

References

  1. ^ a b "Billionaire Odebrecht in Brazil scandal released to house arrest". Reuters. 19 December 2017. Retrieved 8 April 2018.
  2. ^ "Odebrecht Services Limited". Endole. Retrieved 20 June 2015.
  3. ^ a b "Tribute to Marcelo Odebrecht in Miami". Odebrechtonline. Archived from the original on 20 June 2015. Retrieved 20 June 2015.
  4. ^ a b Lewis, Jeffery T (19 June 2015). "With Arrest of Marcelo Odebrecht, Brazil's Corruption Probe Moves to the Penthouse". The Wall Street Journal. Retrieved 20 June 2015. (subscription required)
  5. ^ "Interview with Marcelo Odebrecht". PricewaterhouseCoopers (PWC). Retrieved 20 June 2015.
  6. ^ "Petrobras scandal: Top construction bosses arrested in Brazil". BBC. 19 June 2015. Retrieved 19 June 2015.
  7. ^ Kiernan, Paul (23 June 2015). "S&P Downgrades Debt of Odebrecht Construction Unit Following Arrests". The Wall Street Journal. Retrieved 24 June 2015. (subscription required)
  8. ^ Fonseca, Pedro (8 March 2016). "Former Odebrecht CEO sentenced in Brazil kickback case". Reuters. Retrieved 8 March 2016.
  9. ^ "Brazil Petrobras scandal: Tycoon Marcelo Odebrecht jailed". BBC. 8 March 2016. Retrieved 8 March 2016.
  10. ^ Delfino, Emilia (8 November 2017). "Paradise Papers: Salen a la luz 17 offshore de Odebrecht y al menos una se usó para sobornos". Perfil. Archived from the original on 8 November 2017. Retrieved 9 November 2017.
  11. ^ "STF reduz pena de Marcelo Odebrecht, que fica livre no fim do ano". O Globo (in Brazilian Portuguese). 18 April 2022. Retrieved 13 July 2022.
  12. ^ "STF reduz pena imposta a Marcelo Odebrecht em acordo de delação premiada". Folha de S.Paulo (in Brazilian Portuguese). 18 April 2022. Retrieved 13 July 2022.
  13. ^ "STF reduz pena de Marcelo Odebrecht, que pode ficar livre no fim do ano". Correio Braziliense (in Brazilian Portuguese). 18 April 2022. Retrieved 13 July 2022.
Business positions
Preceded by
Emilio Odebrecht
 CEO of Odebrecht
2008–2015 		Succeeded by

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