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    The Brazilian Odebrecht construction company, suspected of being involved in Petrobras corruption, has agreed to pay about $2 billion in fines, local media report.

    Brazil’s Odebrecht Giant Agrees to Pay About $2 Billion Amid Corruption Probe

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    The Brazilian Odebrecht construction company, suspected of being involved in Petrobras corruption, has agreed to pay about $2 billion in fines, local media report.

    MEXICO CITY (Sputnik) – The fine of 6.7 billion reals will be paid over the next 20 years, the Folha de Sao Paulo daily said on Thursday, adding that they money will be distributed between Brazil, Switzerland and the United States.

    Odebrecht has agreed to give testimony in the Petrobras corruption case.

    Petrobras was headed by former Brazilian leader Dilma Rousseff in 2003-2010, who faced popular discontent after the company’s corruption schemes were revealed in 2014. It transpired that several government functionaries had been signing contracts, charging 3 percent commission fee of the amount of the contract. The money received was used for bribing police and public officials.

    Marcelo Odebrecht, former head of the Odebrecht giant was sentenced to over 19 years in prison for corruption earlier this year.

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