Corrupt Brazilian Executive Marcelo Odebrecht Wants His Family Company Back

RIO DE JANEIRO, BRAZIL – It was a dramatic crash for the boss and owner of what was once the largest Latin American conglomerate.

Marcelo Odebrecht, the Brazilian billionaire, was the fourth generation to run the family business Construtora Norberto Odebrecht. But in 2015 he became the focus of a corruption scandal that shook the whole of South America.

One hundred executives, politicians, and civil servants were convicted. In Peru, three former presidents are in prison, one committed suicide.

Odebrecht, who is now 51 years old, is also currently serving a prison sentence. But since the court allowed him work release leave in September, reports about him have not stopped. To Brazil’s dismay, Marcelo Odebrecht made a surprise visit to the São Paulo headquarters.

He then sent an open letter to his family. He said that he had found the company unsupervised and that he was prepared to propel it out of the crisis.

He is still displaying the delusions of grandeur with which he once produced the giant, say those who know him. And he again demonstrated the arrogance with which he refused all corruption charges right to the end.

However, the prosecutor’s office soberly points out that no family member may ever again preside over the company, due to the leniency deal.

His own family is disconcerted too. Father Emilio has long since turned his back on Marcelo
Odebrecht and made it absolutely clear that the strict compliance rules continue to apply.

Related coverage: Kirchner About to Return to Power in Argentina Using Strategic Ability · Lula Will Receive Title of Honorary Citizen of Paris · Fear of Unemployment Drops and Satisfaction Increases in Brazil, Says CNI Survey · State Police Invaded Hospital Seeking to Retrieve Bullet That Killed Ágatha Félix

More: Brazil news in English, every day from The Rio Times.

This article was produced by The Rio Times’ automated AI newsroom. Editorial responsibility: Matthias Camenzind, Publisher and Editor-in-Chief. The Rio Times also runs Ask Rio Times, which answers from 100,000+ of our own articles, the daily Latin America Power Map, and prediction-market odds on elections and markets.. How we use AI · Report an error

Brazil runoff, Sunday, October 25: Brazil runoff date. Latest: Brazil runoff polls, Flávio 51%, Lula 49%.