Exclusive: Leniency deal for Brazil’s Odebrecht may be world’s largest

U.S. and Swiss investigators are working with Brazilian counterparts to complete negotiations with Odebrecht, the construction company at the center of a massive political kickback scandal, in what is likely to be the world’s largest leniency deal, people involved in the talks said.

Upwards of 80 Odebrecht employees are negotiating plea bargains and a leniency deal for the company. In return, they must testify about the conglomerate’s central role in a scheme involving contracts with state-run oil company Petrobras (PETR4.SA).

Two sources said this was likely to be the world’s largest leniency deal, exceeding a 2008 agreement in which German engineering company Siemens paid $1.6 billion to U.S. and European authorities for paying bribes to win government contracts.

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