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Brazilian Companies to Pay Combined $3.5B in Bribery Case

Odebrecht, the largest construction company in Brazil, and major petrochemical company Braskem have agreed to pay a combined penalty of at least $3.5 billion to settle allegations that they bribed government officials for business, U.S. authorities said Wednesday. The companies admitted to paying hundreds of millions of dollars in bribes, money that law enforcement officials say was authorized at the highest corporate levels and was disguised through complex financial arrangements. Both...

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