DOJ and SEC take small slice of Odebrecht - Braskem $3.5 billion global settlement
6:18 pm Brazil construction giant Odebrecht S.A. and its petrochemical unit, Braskem S.A., pleaded guilty Wednesday to paying bribes around the world. The companies agreed to pay $3.5 billion for a global settlement with authorities in the United States, Brazil, and Switzerland. Braskem, whose American Depositary Receipts trade on the New York Stock Exchange, agreed to pay the DOJ and SEC $159.8 million for conspiring to violate the Foreign Corrupt Practices Act. It will pay a criminal penalty to the DOJ of $94.8 million and disgorge $65 million to the SEC. Odebrecht agreed to pay a criminal...
Source: fcpablog.com