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Ecuador: SCPM urged to start investigation into Odebrecht for ‘criminal scheme’

 |  June 19, 2017

Fabricio Villamar, Assemblyman for Ecuador’s CREO-SUMA party alliance, has asked the Superintendency of Market Power Control (SCPM), the market regulator, to begin an investigation leading to appropriate sanctions on Brazilian construction giant Odebrecht for, as he said, engaging in corrupt practices affecting the country’s economy.

Adding that it has been more effective for these companies to pay bribes and “burn” officials rather than increase productivity or create innovation, the deputy said that the practices of the Brazilian giant demonstrate the existence of an underlying structure of corruption.

SCPM superintendent Pedro Páez said that the call had been surprising. However, he assured that the SCPM is open to calls from public officials to fight against corruption. In addition, he explained that the investigation against Odebrecht already began a couple of months ago, though he mentioned that all possible evidence must be gathered before action is against the company.

Full Content: Ecuador Inmediato

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