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December 26, 2018

Posted  December 26, 2018

Brazil-based Centrais Elétricas Brasileiras S.A. will pay a $2.5 million fine to the SEC for violations of the FCPA arising from an illicit bid-rigging and bribery scheme among certain private Brazilian construction companies involving the construction of a nuclear power plant.  The SEC also found material weaknesses in Eletrobras’ internal control over financial reporting.  SEC

Tagged in: FCPA, Financial and Investment Fraud,