Brazil’s Camargo Correa inks 1.4 bln reais leniency deal with government

July 31, 2019

The Comptroller General of the Union (CGU) and the Attorney General of the Union (AGU) signed a leniency agreement with Camargo Corrêa, investigated by the Lava Jato. The company will have to pay the injured entities and the Union the amount of R $ 1,396 billion by January 2038.

The amount involves damage payments, illicit enrichment and fine under fraudulent contracts involving federal contracts.

In addition to the company’s collaboration during the investigations, the leniency agreement also provides for Camargo Corrêa to refine the company’s current compliance program.

To date, CGU and AGU have signed nine leniency agreements with companies investigated for misappropriations of federal and state-owned companies: Camargo Corrêa, Technip Brasil and Flexibras (R$ 819 million), Braskem (R$ 2.87) Andrade Gutierrez (R$ 1.4 billion), SBM Offshore (R$ 1.2 billion), Odebrecht (R$ 2.7 billion), MullenLowe and FCB Brasil (R$ 53 million), Bilfinger (R$ 9 million) and UTC Participações (R$ 574 million). The sum of the nine agreements is R$ 11 billion.

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