Odebrecht scandal shakes up Latin America

|By:, SA News Editor

Bribery inquiries are taking place across Latin America as investigators demand more information from Brazil-based construction company Odebrecht and Braskem (NYSE:BAK), the petrochemical firm it jointly owns with Petrobras (NYSE:PBR), after they admitted to a decade of immense kickbacks in the region.

"This is going to be a political earthquake in many of these countries," said Jose Ugaz, a former Peruvian prosecutor who believes the revelations represent the tip of a broader scheme.