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October 24, 2016

Posted  November 7, 2016

Brazilian aircraft manufacturer Embraer S.A. will pay more than $205 million to the SEC, DOJ, and Brazilian authorities to resolve alleged violations of the Foreign Corrupt Practices Act (FCPA).  The SEC’s complaint alleges that Embraer made more than $83 million in profits as a result of bribe payments from its U.S.-based subsidiary through third-party agents to foreign government officials in the Dominican Republic, Saudi Arabia, and Mozambique to secure business in those countries.  Embraer also engaged in an alleged accounting scheme in India, in which $5.76 million was paid to an agent in India in connection with the sale of three highly-specialized military aircraft for India’s air force and the payments were falsely recorded in Embraer’s books and records as part of a consulting agreement that was not legitimate.  SEC

Tagged in: FCPA,