Swiss-based oil trader Gunvor will pay more than $661 million as part of a plea agreement with the Department of Justice (DOJ) to resolve violations of the Foreign Corrupt Practices Act (FCPA) involving a long-running scheme to bribe officials in Ecuador to secure oil contracts.

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Aaron Nicodemus is the Editor-in-Chief of Compliance Week. He previously worked as a reporter for Bloomberg Law and as business editor at the Telegram & Gazette in Worcester, Mass. Email: aaron.nicodemus@complianceweek.com LinkedIn:...