The results of the independent investigation, entrusted by the initiative of the former Board at Graña y Montero last January, have been presented today to the General Meeting of Shareholders. This investigation was aimed to determine whether there were responsibilities in the 6 projects in which our company participated as a minor partner with Odebrecht.
After having completed over 6 months’ work, the investigation has come to an end, but no evidence has been identified to conclude that some of the directors, present of past, executives and/ or employees in this company might have had knowledge or participated in any corruption act or bribe to public officials in the aforementioned projects.
During the process, over 250,000 documents out of a total of 14 custodies have been analyzed, including emails, text messages, financial statements, press information and commercial documents, besides other electronic backups, such as computer hard disks, backups and corporative network data. At the same time as the document revision, 25 interviews were held with officials, former officials and certain former directors of the company.
This investigation was carried out by the law firm Simpson Thacher and Barlett, one of the most prestigious firms in the world, which counts on over 1,000 lawyers and whose main office is located in New York, thus having the technical and forensic support of EY. The lawyers’ team has been led by a former senior official of the US government, who used to supervise the prosecution of fraud and corruption.
Once the results of the independent investigation were known, the Board asked the Risks, Compliance and Sustainability Committees and the Group Management to carry out the following tasks:
- To reinforce the management and assessment system of the Company.
- To strengthen the assessment system of potential partners and due diligence, previous to the participation in any project, in order to mitigate any eventual reputational risk.
- To ensure the association with third parties, especially in the cases where the Company will be a minor partner, so that we can exercise our right to assert the corresponding protections to our participation, to have the freedom to participate in the decisions of the project and to duly access the relevant information of the same.
- As Augusto Baertl, the Chairman has put it into words: “the report received today confirms that no evidence of corruption has been found, and at the same time it confirms that some areas need improvement, in particular, in the way we are managing our associations with third parties. This is why we have requested the Risks, Compliance and Sustainability Committees to work in reinforcing the admission policies in consortiums, with special focus on projects in which we have a minor participation, such is the case of the 6 analyzed cases”.
Hereby, we share the final report of the Independent Investigation: