Defendant Name:
Braskem, S.A.
Defendant Type:
Public Company
Document Reference:
2016-271
Document Details
Legal Case Name
SEC v. Braskem, S.A.
Document Name
Petrochemical Manufacturer Braskem S.A. to Pay $957 Million to Settle FCPA Charges
Document Date
21-Dec-2016
Document Format
Civil Proceeding
Allegation Type
Foreign Corrupt Practices Act
Document Summary
On December 21, 2016, the SEC issued a press release regarding charges against Braskem, S.A., stating: "The Securities and Exchange Commission today announced that a Brazilian-based petrochemical manufacturer whose stock trades in the U.S. markets has agreed to settle charges that it created false books and records to conceal millions of dollars in illicit bribes paid to Brazil government officials to win or retain business. In a global settlement with the SEC, U.S. Department of Justice, and authorities in Brazil and Switzerland, Braskem S.A. agreed to pay $957 million."
Disgorgement & Penalty Information
Resolutions
Compliance Related Independent Consultant
Monetary Penalties:
Disgorgement
Individual:
$325,000,000.00
Shared: