Andrade Gutierrez settles corruption charges

Andrade Gutierrez settles corruption charges

Economy & Policy Regulation Project & Infrastructure Finance Brazil

Andrade Gutierrez Engenharia has agreed to pay BRL1.49bn ($381m) in fines to settle corruption allegations from the Lava Jato investigation in Brazil. When adjusted for the Selic, the central bank's benchmark lending rate, the fines could reach BRL3.6bn over the 16-year payment period, the attorney general's office, or AGU, said in a statement. Andrade Gutierrez will pay BRL875m for illegal earnings from 54 government contracts where fraud was involved. It will also pay BRL328m for bribing gover

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