Marcelo Odebrecht
Marcelo Odebrecht | |
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Born | Marcelo Bahia Odebrecht October 18, 1968 |
Alma mater | Universidade Federal da Bahia |
Occupation | Businessman |
Title | Former CEO, Odebrecht |
Term | 2008–2015 |
Predecessor | Emilio Odebrecht |
Successor | Newton de Souza |
Criminal status | House arrest after 2 years and six months in prison |
Relatives | Norberto Odebrecht (grandfather) |
Criminal charge | Active corruption, criminal association and money laundering |
Penalty | 19 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: Rafa, Gabi and Mari.[3]
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