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Investigations Dataset

 

Investigation Name:    Investigation into PEMEX's Involvement with Odebrecht

Trend:    None

Type of investigation:    Internal

Whistleblower:    Unknown

Summary

Petroleos Mexicanos ("PEMEX") is the Mexican state-owned petroleum company managed and operated by the Mexican government. Odebrecht S.A. was a Brazilian conglomerate that conducted business in a variety of industries.

On December 21, 2016, Odebrecht settled an FCPA enforcement action with the DOJ. The misconduct at issue in the enforcement action involved bribes paid for more than 100 projects in twelve countries. Bribes totalling $10.5 million paid to high-level Mexican officials were among the bribes paid by Odebrecht.

On December 22, 2016, the Liabilities Unit of PEMEX initiated an internal investigation into bribery or corruption related to the allegations in the Odebrecht enforcement action. According to its SEC filings, PEMEX collaborated in the investigation with the Mexican Ministry of Public Function and the Mexican Federal Attorney General’s Office in order to hold accountable those responsible for the misconduct and ensure that the company recover any damages to which it was entitled.

It appears that the 20-F filed on May 8, 2020 contained the last mention of this investigation, so it is likely complete.

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