Petrobras to Pay $853.2 Million to Settle Corruption Investigations in U.S., Brazil
September 27 2018 - 8:54AM
Dow Jones News
By Aruna Viswanatha and Jeffrey T. Lewis
Petrobras said Thursday it had agreed to an $853.2 million
settlement with U.S. and Brazilian law-enforcement authorities to
end yearslong investigations into one of the biggest corruption
schemes ever uncovered.
The payments include a tentative deal to pay $682.6 million to a
Brazil fund, and an additional $170.6 million equally split between
the U.S. Justice Department and the U.S. Securities and Exchange
Commission,
The Justice Department agreed not to prosecute the company in
exchange for an $85.3 million payment three years of compliance
reports, and an admission that the scheme amounted to criminal
violations of laws that require public companies to maintain
accurate books and records, Petrobras said.
Write to Aruna Viswanatha at Aruna.Viswanatha@wsj.com and
Jeffrey T. Lewis at jeffrey.lewis@wsj.com
(END) Dow Jones Newswires
September 27, 2018 08:39 ET (12:39 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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