A commodities dealer in Stamford, Connecticut, Freepoint Commodities LLC, has agreed to pay the federal authorities over $98 million to resolve a DOJ investigation into violations of the International Corrupt Practices Act (FCPA) stemming from their involvement in a scheme to pay bribes to Brazilian authorities officers, Josh LaBella reports for the Register Citizen.
The DOJ mentioned the corporate is accused of conspiracy to violate the anti-bribery provision of the FCPA for its scheme, which was carried out to be able to safe enterprise with Brazil’s state-owned and state-controlled oil firm, Petróleo Brasileiro S.A. – Petrobras. The DOJ mentioned Freepoint and its co-conspirators paid bribes to Petrobras officers between 2012 and 2018, incomes over $30 million in earnings consequently. The DOJ mentioned Freepoint has additionally agreed to repay greater than $7.6 million to the Commodity Futures Buying and selling Fee in a associated matter and agreed to proceed cooperating with the division in any ongoing or future legal investigation referring to this conduct. A senior oil dealer at Freepoint, his brother, and one different firm agent have additionally been criminally charged in reference to Freepoint’s bribery scheme.
Source / Picture: thecrimereport.org
