Brazilian construction firm Odebrecht SA [ODBES.UL] and affiliated petrochemical company Braskem SA pleaded guilty in a U.S. court on Wednesday to violating American foreign bribery laws as part of a more than $3 billion deal resolving a sweeping corruption probe of Brazil’s state oil company.
The companies entered their pleas in federal court in Brooklyn in the major corruption case stemming from a wide-ranging probe into their role in a scheme involving political kickbacks at Brazil’s Petrobras.
The cumulative penalties were negotiated as part of a global settlement with U.S., Brazilian and Swiss authorities.
Leave a Reply