Odebrecht, Braskem plead guilty in U.S. after Brazil bribe probe

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.

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