Why Odebrecht Handed Prosecutors A Record FCPA Deal
Law360, New York (December 21, 2016, 9:20 PM EST) -- Odebrecht SA’s historic $3.6 billion bribery settlement came together just six months after the company approached U.S. authorities, a remarkably quick resolution driven by the firm's desire to strike a global deal and its willingness to pay top dollar to do so.
The deal with U.S., Swiss and Brazilian authorities, announced on Wednesday, more or less resolves the engineering conglomerate's liability for a sprawling bribery scheme uncovered during Brazil's Petrobras corruption investigation. Even though most of the settlement is going to Brazil, the U.S. Department of Justice credited the foreign payments toward criminal fines under the Foreign Corrupt Practices Act. The...
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