Why politicians needed companies like Odebrecht to win elections?

Expert Solution

Odebrecht is a Brazilian conglomerate, headquartered in Salvador, Bahia, Brazil, consisting of diversified businesses in the field of engineering, construction, chemicals, and petrochemicals. The company was founded in 1944, and now it is present in the Americas, Europe, Africa, and the middle east. The founder of the company is Norberto Odebrecht.

Odebrecht Scandal - Using a complex network of shell companies, off-book transactions and bank accounts, and a dedicated bribery division, Odebrecht paid more than $780 million in bribes to government officials, their representatives, and politician parties across Latin Americans and the Caribbean. This helps to win contracts and other benefits totaling $3.34 billion, according to the US department of justice, which has described the scheme as, "massive and unparalleled".Odebrecht has admitted that it started to systematically official bribe around 2001. Five years later, it created an entire division - the division of structured operations -primarily dedicated to making corrupt payment.

The U.S investigated Odebrecht because the company was suspected of making illicit payment from the banks of New York City and because the meeting was held in Miami.

Q) Why politicians needed companies like Oderecht?

In many countries, the political cycle exacerbates corruption. First getting into office often acquiring money and support through awful channels. Here, companies like Odebrecht helps the politician to achieve their motto. A politician who diverts public funds will typically, do so in secret and in collaboration with those they trust.

When a politician wins an election, there is a significant increase in the share of road contracts awarded to contractors with their surname. Here, companies like Odebrecht helps to pay the money to politicians that are a bribe.

Each company is involved with the government and the role of government is very important for the survival of the company in the market.

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keosha answered 4 months ago

Why do you think Odebrecht needed politicians to win contracts?

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