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In their respective oral arguments, Odebrecht and Braskem are required to continue their cooperation with law enforcement, including in the investigation and prosecution of those responsible for criminal conduct. Odebrecht and Braskem also agreed to improve compliance procedures and maintain independent compliance monitors for three years. The cases are assigned to U.S. District Judge Raymond J. Dearie of the Eastern District of New York. Under the agreement, the company could expect possible criminal prosecution if it is found to be in violation of the plea agreement. According to prosecutors, the company has until November 16 to fulfill the obligations arising from the expanded plea. www.wsj.com/articles/brazils-odebrecht-agrees-to-extend-monitorship-for-another-nine-months-11580859505 letter DOJ Pleas or Pleas DOJ Press Release (2016) As part of the oral argument, the United States will receive the amount paid by Odebrecht to Brazil and Switzerland for the duration of their respective agreements, with the United States and Switzerland each receiving 10 percent of the total fine and Brazil receiving the remaining 80%. The fine is subject to insolvency that the Ministry of Justice and the Brazilian authorities must implement on or before 31 March 2017, as Odebrecht represents them, which can only pay about $2.6 billion during the relevant agreements. The verdict is scheduled for April 17, 2017. Odebrecht pleaded guilty to an un-numeral criminal investigation filed today by the Department of Fraud of the Criminal Division and the U.S. Attorney`s Office in U.S.

District Court for the Eastern District of New York, and accuses the company of conspiracy to violate the anti-corruption provisions of the Foreign Corrupt Practices Act (FCPA). Odebrecht agreed that the appropriate fine would amount to $4.5 billion, subject to further analysis of the company`s ability to pay all global penalties. In the corresponding proceedings, Odebrecht also settled its accounts with the Ministerio Publico Federal in Brazil and the Federal Prosecutor`s Office in Switzerland. As part of the advocacy process, Odebrecht agreed to maintain an independent compliance monitor for three years and to adopt and implement a compliance and ethics program. Initially, the monitoring was scheduled to end on February 20. In 2016, Odebrecht pleaded guilty to alleged conspiracy to violate U.S. bribery laws and entered a plea with the DOJ. The company allegedly paid hundreds of millions of dollars in bribes to officials in Brazil and abroad to secure lucrative infrastructure contracts between 2001 and 2016, according to the plea agreement.

Odebrecht S.A. (Odebrecht), a global construction group based in Brazil, and Braskem S.A. (Braskem), a Brazilian petrochemical company, pleaded guilty today and agreed to pay a total fine of at least $3.5 billion to settle charges with authorities in the United States, Brazil and Switzerland stemming from their plans to pay hundreds of millions of dollars in bribes to government officials around the world. Braskem, whose American Depositary Receipts (ADRs) is the subject of public exchanges on the New York Stock Exchange, pleaded separately guilty of a single criminal information material filed in the Eastern District of New York, accusing him of conspiracy in violation of FCPA`s anti-corruption rules. Braskem agreed to pay a total fine of $632 million. No convictions have yet been foreseen. In the corresponding proceedings, Braskem also settled its accounts with the U.S. Securities and Exchange Commission (SEC), the Federal Ministerio Publico in Brazil and the Federal Prosecutor`s Office in Switzerland.