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Brazilian authorities sign leniency agreement with SBM Offshore

Jaclyn Jaeger | July 20, 2016

Dutch engineering company SBM Offshore announced this week it has reached a leniency agreement with Brazilian authorities to resolve allegations relating to the Petrobras bribery scandal.

Specifically, the settlement agreement, reached on July 15, resolves an investigation launched last year by the Federal Government General Controller, or in Portuguese, Controladoria-Geral da União (CGU), into allegations that SBM Offshore engaged in a “pay-to-play scheme” in which company representatives bribed executives of state-owned oil company Petrobras from 1996 to 2012 in exchange for contracts.  

Under the agreement, SBM Offshore will pay US$162.8 million, of which US$149.2 million will go to Petrobras, US$6.8 million to the Public Prosecutor’s Office, or Ministério Público Federal (MPF), and US$6.8 million will go to the Council of Control of...

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