Brazil’s Odebrecht may pay whistleblowers $275 million, Valor says

Brazilian engineering conglomerate Odebrecht SA may agree to pay up to 900 million reais ($275 million) in compensation to whistleblowers within the company to settle a major graft and money-laundering probe, newspaper Valor Economico reported on Tuesday.

Valor reported, citing unnamed sources participating in legal discussions, that Odebrecht was negotiating average compensation of 15 million reais for each of the 40 to 60 executives who are testifying and agreeing to leave their respective industries in a sweeping settlement.

Salvador, Brazil-based Odebrecht, Latin America’s largest engineering conglomerate, is also expected to return some 6 billion reais to public coffers, including those of several state companies in Brazil, which it allegedly overcharged in a contract-fixing and political kickback scheme, Valor said.

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