Freepoint Commodities to pay $99M in Brazil bribery FCPA case
By 
Adrianne Appel2023-12-14T21:08:00
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.
Freepoint entered into a three-year deferred prosecution agreement with the DOJ, based on a criminal information filed in U.S. District Court for the District of Connecticut.
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