United States: U.S. judge approves $2.6 billion fine for Odebrecht in corruption case

Author(s): Brendan Pierson | Date: April 17, 2017 | Language: English
Source: http://www.reuters.com/ | URL: https://goo.gl/PRbZAx | Type: Text

A U.S. judge on Monday sentenced Brazilian engineering company Odebrecht SA to pay $2.6 billion in fines in a massive criminal corruption case, signing off on a plea deal between the company and U.S., Brazilian and Swiss authorities.
U.S. District Judge Raymond Dearie said at a hearing in Brooklyn federal court that about $93 million will go to the United States, $2.39 billion to Brazil and $116 million to Switzerland.
Odebrecht, along with affiliated petrochemical company Braskem SA, pleaded guilty to U.S. bribery charges in December. U.S. authorities charged Odebrecht with paying about $788 million in bribes to officials in 12 countries, mostly in Latin America, to secure lucrative contracts.
Some of those bribes flowed through U.S. banks, the prosecutors said.
Monday’s order comes as Odebrecht tries to negotiate plea deals with other countries, including Argentina, Chile, Colombia, Ecuador, Mexico, Peru, the Dominican Republic, Venezuela, Panama and Portugal.