Defendant Name: GOL Linhas Aéreas Inteligentes S.A.

Defendant Type: Public Company

Document Reference: 2022-164

Document Details

Legal Case Name In the Matter of GOL Linhas Aéreas Inteligentes S.A.
Document Name SEC Charges Gol Intelligent Airlines, Brazil's Second Largest Airline, with FCPA Violations
Document Date 15-Sep-2022
Document Format Administrative Proceeding
File Number 3-21094
Allegation Type Foreign Corrupt Practices Act
Document Summary The SEC stated that: "[It] charged Brazil's second largest domestic airline, GOL Linhas Aéreas Inteligentes, for violating the Foreign Corrupt Practices Act (FCPA). The São Paulo-based company, also known as Gol Intelligent Airlines, agreed to pay $70 million to settle the SEC charges."

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order
The SEC stated: "the SEC and the DOJ waived payment of all but $24.5 million and $17 million of Gol's payment obligations, respectively."
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:

Total Penalty

Individual:     $70,000,000.00 Shared:    

Related Documents:

34-95800-s 15-Sep-2022 Administrative Summary
SEC Charges Gol Intelligent Airlines, Brazil's Second Largest Airline, with FCPA Violations
The SEC stated that: "[It] charged Brazil's second largest domestic airline, GOL Linhas Aéreas Inteligentes, for violating the Foreign Corrupt Practices Act (FCPA). The São Paulo-based company, also known as Gol Intelligent Airlines, agreed to pay $70 million to settle the SEC charges."
34-95800 15-Sep-2022 Administrative Proceeding
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order
On September 15, 2022, the SEC instituted settled cease-and-desist proceedings against GOL Linhas Aéreas Inteligentes S.A., stating: "These proceedings arise out of a scheme to bribe government officials in Brazil in exchange for certain payroll tax and fuel tax reductions that financially benefited Gol, along with other airlines."