U.S. District Judge Raymond Dearie ordered Odebrecht SA, an engineering conglomerate, to pay $2.6 billion to the governments of Brazil, the U.S., and Switzerland for violations of the Foreign Corrupt Practices Act. The company and its affiliate Braskem SA both pled guilty in December 2016 to conspiracy to violate the FCPA. Per the Department of Justice, the company employed “an elaborate, secret financial structure” to pay hundreds of millions of dollars in bribes over 15 years.
The fine was initially $6 billion. This was negotiated down by $2 billion after the company demonstrated it could not pay the full fine. It also received a 25 percent reduction because of its cooperation with the investigation.