Freepoint Commodities agreed to pay nearly $99 million to settle allegations by the Department of Justice (DOJ) that it paid bribes to Brazilian government officials in return for business from state-owned oil company Petrobras.
Freepoint was assessed a criminal penalty of $68 million and agreed to forfeit more than $30.5 million, the DOJ announced Thursday. The Connecticut-based commodities trading company agreed to disgorge more than $7.6 million as part of a related resolution with the Commodity Futures Trading Commission (CFTC) charging it with misappropriation-based fraud.
