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Petrobras Agrees to Pay $853 Million to End `Carwash’ Probes (3)

Sept. 27, 2018, 1:54 PM

Brazil’s state-run energy explorer Petrobras will pay $853.2 million to settle claims by authorities in its home country and the U.S. stemming from allegations that its executives facilitated bribes to politicians and then concealed those payments from investors in one of South America’s biggest corruption scandals.

The bulk of the penalties -- more than $682 million -- will go to the Brazilian Federal Prosecutor’s Office, the company formally known as Petroleo Brasileiro SA said in a statement Sept. 27. Another $171 million will be split evenly between the U.S. Department of Justice and the Securities and Exchange Commission. Petrobras admitted ...