Home / Daily Briefs / 2016 / Odebrecht, Braskem plead guilty to violating US bribery laws

Odebrecht, Braskem plead guilty to violating US bribery laws

Odebrecht, Braskem plead guilty to violating US bribery laws

December 22, 2016 | Mick Bowen
Brazilian conglomerate and its petrochemical affiliate agree to pay more than $2bn in Brazil, Switzerland and the US

Brazil

Odebrecht and its petrochemical affiliate Braskem have agreed to pay a total of BRL6.93bn ($2.06bn) in fines in the US and Switzerland, settling allegations from the Lava Jato corruption investigation.Odebrecht pleaded guilty to violating bribery laws and agreed to pay a BRL3.83bn fine in Brazil, Switzerland and the US over 23 years, adjusted by the Selic interest rate, the company said in a statement.Braskem agreed to pay a BRL3.1bn fine, including BRL1.6bn at signing. The petrochemical company

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