SAO PAULO Oct 6 A former chief executive of
Braskem SA is working with investigators in Brazil to
establish the petrochemical company's responsibility in a
political graft scandal involving its shareholders, according to
a newspaper report on Thursday.
Brazilian daily Valor Economico reported, without saying how
it obtained the information, that former Chief Executive Carlos
Fadigas was collaborating in the hopes of striking a plea deal.
Braskem representatives did not immediately respond to a
request for comment and Fadigas, who stepped down in May after
running the company for five years, could not be reached.
Braskem said in May that he would continue to help the
company's efforts to expand internationally.
Valor did not say how the collaboration by Fadigas would
affect Braskem's negotiations with the U.S. Department of
Justice and Securities and Exchange Commission, which the
company said on Monday were aimed at reaching a formal accord
and possible financial sanctions.
The formal talks with U.S. authorities underscored Braskem's
effort to move past a bribery scandal that has upended Brazil's
politics and entangled its two main shareholders, state-run oil
company Petroleo Brasileiro SA and engineering
conglomerate Odebrecht SA.
($1 = 3.22 reais)
(Reporting by Brad Haynes; Editing by Bernadette Baum)