Brazilian construction company profits 4 times more than amount paid in bribes

Swiss authorities revealed that Brazilian construction company Odebrecht, deeply involved in a major international corruption scheme, profited four times more than it paid in bribes, Brazilian news site G1 said on Wednesday.

According to the Swiss authorities, for every 1 million U.S. dollars paid in bribes to politicians and authorities in several countries, the company managed to profit 4 million. The information was given by Odebrecht executives who gave state's evidence in exchange for lenience in a Swiss investigation.

The entire scheme was seen as not only highly profitable but also an operation carried out highly professional, according to the authorities. In order to avoid investigations and not to raise suspicion, the company paid bribes using a variety of accounts in banks from some 10 countries.

Odebrecht is deeply involved in a corruption scheme at state-controlled oil company Petrobras. The company is being investigated for some two years in Brazil, and a number of high-profile executives, including CEO Marcelo Odebrecht, were arrested and signed lenience agreements in exchange for providing ample evidence on the participation of politicians in the corruption scheme.

Marcelo Odebrecht's testimony, which has yet to be fully revealed, is regarded as a time bomb against Brazilian politicians. Endi