Imprisoned head of Brazil's Odebrecht resigns

GMT 08:28 2015 Friday ,11 December

Arab Today, arab today Imprisoned head of Brazil's Odebrecht resigns

Marcelo Odebrecht's resignation was announced in a company statement
Sao Paulo - AFP

The billionaire head of Brazilian construction giant Odebrecht, accused of corruption and money laundering linked to the Petrobras scandal, stepped down after nearly six months behind bars.

Marcelo Odebrecht's resignation was announced in a company statement, which also maintained his innocence.

"Odebrecht believes that Marcelo's unjust and unnecessary detention will be revoked and is confident that, at the end of the legal proceedings, his innocence will be formally recognized," the statement said.

Odebrecht has been held at a prison in Curitiba since June 19.

His appointed successor is Newton Souza, the company statement said.

Odebrecht is accused by prosecutors of racketeering, corruption and money laundering for his role in a vast fraud scandal that cost state oil giant Petrobras $2 billion.

Odebrecht is just one of a slew of businessmen and politicians -- including much of President Dilma Rousseff's inner circle -- implicated in the scheme.

Odebrecht, Latin America's largest construction company, has 181,000 employees in 21 countries.

It has been involved in construction projects linked to the Summer Olympics Brazil is hosting next year, as well as the revitalization of Rio de Janeiro's port area and the construction of a subway.  


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