Odebrecht SA Receives $2.6 Billion FCPA Fine

On April 17, 2017, a federal judge in Brooklyn ordered Odebrecht SA to pay $2.6 billion to the governments of the United States, Brazil and Switzerland for violations of the Foreign Corrupt Practices Act (“FCPA”). Additionally, the order requires the company to retain an independent compliance monitor for three years. Odebrecht and its affiliate Braskem SA pled guilty in December 2016 to conspiracy to violate the FCPA. Notably, Odebrecht received discounts from its sentencing-guideline fine of more than $6 billion by (i) cooperating with investigators and (ii) demonstrating that the company could not pay a fine higher than $2.6 billion.