Petrobras Pays $853M To End Corruption Probe

Law360 (September 27, 2018, 5:24 PM EDT) -- Brazilian state-owned oil company Petrobras said on Thursday that it will pay $853.2 million in penalties to end a U.S. probe into a multibillion-dollar bribery scheme by former company executives, with 20 percent of the settlement going to the U.S. and the rest going to a fund in Brazil.

The U.S. Department of Justice and Securities and Exchange Commission will each get an $85.32 million cut of the settlement with Petrobras. (Getty)

The settlement ends the U.S. probe into corruption at Petrobras. As part of the deal, the U.S. Department of Justice agreed not to prosecute the company. And Petrobras admitted...

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