November 22, 2019

South Korea-based Samsung Heavy Industries Company Ltd. will pay $75 million in a global settlement of allegations that it engaged in an unlawful scheme to bribe government officials in Brazil.  Half of the total settlement, $37.74 million, will be paid to resolve a U.S. criminal action that the company violated the Foreign Corrupt Practices Act; the other half will be paid either to Brazilian authorities on or before November 25, 2020, or to the U.S.  Samsung was alleged to have paid millions to a Brazil-based intermediary, knowing and intending that those funds would be used to bribe officials at the Brazilian state-owned Petrobras in order to obtain a shipbuilding contract for Samsung.  DOJ; USAO ED VA

Tagged in: Criminal Proceedings, FCPA, Financial and Investment Fraud,