Peru ex-President Toledo convicted of bribe-taking, sentenced to 20 years in prison

Peru ex-President Toledo convicted of bribe-taking, sentenced to 20 years in prison


Peru’s former President Alejandro Toledo appears in court next to his lawyer Roberto Su for sentencing during his trial on charges of corruption related to the Brazilian company Odebrecht, in Lima, Peru, October 21, 2024.

Gerardo Marin | Reuters

Peruvian former President Alejandro Toledo was convicted of taking bribes from Brazilian construction giant Odebrecht and sentenced to 20 years and six months in prison on Monday.

The verdict marks Peru’s first high-profile conviction related to Brazil’s continent-spanning Lava Jato corruption scandal.

Toledo, a 78-year-old economist who holds a doctorate from Stanford University, governed the Andean nation between 2001 and 2006.

He was convicted of taking $35 million in bribes from the company formerly known as Odebrecht, according to prosecutors, in exchange for letting it win a contract to build the road that now connects Peru’s southern coast with an Amazonian area in western Brazil.

Inside the $93 million Wall Street heist that stemmed from Russia

During the year-long trial, Toledo denied the money-laundering and collusion charges.

Odebrecht, now known as Novonor, was at the center of Latin America’s largest graft scandal, after admitting in 2016 that it bribed officials in a dozen countries to secure public works contracts.

Last week, Toledo asked the court to let him serve his sentence at home as he battles cancer.

“Please let me heal or die at home,” he said.

The sentence was announced in a room set up in a small Lima prison where Toledo has been detained since last year.

Former President Pedro Castillo is also being held there as he faces allegations of “rebellion” after trying to dissolve Congress in 2022.

Two other ex-presidents, Pedro Pablo Kuczynski and Ollanta Humala, are also being investigated in the Odebrecht case.

Toledo, who famously shined shoes as a child, was arrested in the United States in 2019 after officials in Peru requested his extradition.

Prosecutors relied on testimony from former Odebrecht executive Jorge Barata as well as Toledo’s ex-collaborator Josef Maiman, who said Toledo received bribes.

The former president signed the contract with Odebrecht for the construction of the road, though building it took place over two subsequent administrations.



Source

Asia-Pacific markets rise as investors look toward slate of China economic data
World

Asia-Pacific markets rise as investors look toward slate of China economic data

Beijing Central Business District, mix of offices and apartments Ispyfriend | E+ | Getty Images Asia-Pacific markets opened higher Monday as investors awaited a slew of economic data coming out of China. Analysts polled by Reuters expect China’s economy to have slowed in the third quarter, forecasting gross domestic product to have grown 4.8% in […]

Read More
Japanese family businesses are facing a succession crisis. That is fueling a private equity boom
World

Japanese family businesses are facing a succession crisis. That is fueling a private equity boom

Japan Inc. is confronting a ticking demographic time bomb, and private equity players are racing to defuse it. Across the country, ageing business owners are facing a dual reckoning: heirs not interested in taking over the family business, and steep inheritance taxes. For many family businesses, rooted in the tradition of handing over the reins […]

Read More
Stock futures rise ahead of big earnings week: Live updates
World

Stock futures rise ahead of big earnings week: Live updates

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 16, 2025. Jeenah Moon | Reuters Stock futures moved higher Sunday night as investors turn their attention towards a slew of big-name earnings reports and inflation data expected in the coming days. Futures tied to the Dow […]

Read More