BRAZIL’S PETROBRAS SETTLES BRIBERY CHARGES
September 1st, 2018
BRAZILIAN state energy giant Petróleo Brasileiro SA (Petrobras) has settled bribery charges with USA and Brazilian law enforcement agencies, agreeing to pay an eye watering USD1.78 billion to resolve outstanding accusations.
However, USD933.4 million of this will be credited by the USA’s Securities & Exchange Commission (SEC) to Petrobras, taking into account money disgorged under a previous settlement of a securities class action lawsuit in the United States.
Nonetheless, Petrobras will also pay USD682.5 million to the Brazilian ministry responsible for ...
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