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U.S. judge orders Odebrecht to pay $2.6B in global bribery case

Jaclyn Jaeger | April 18, 2017

A U.S. federal judge this week ordered Odebrecht to pay $2.6 billion in fines for violations of the Foreign Corrupt Practices Act, securing a plea deal reached last year with authorities in the United States, Brazil, and Switzerland.

On April 17, U.S. District Court Judge for the Eastern District of New York Raymond Dearie sentenced Odebrecht to pay $2.39 billion to the government of Brazil; $93 million to the U.S. Department of Treasury; and $116 million to the Switzerland government.

In December 2016, Odebrecht pleaded guilty to a one-count criminal information by the Criminal Division’s Fraud Section and the U.S. Attorney’s Office in the U.S. District Court for the Eastern District of New York, charging the company with conspiracy to violate... To get the full story, subscribe now.