- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
Any company under a criminal investigation by the U.S. government looking to avoid the appointment of a compliance monitor will want to take a page from Brazilian state-owned energy company Petrobras. Gibson Dunn partner Joe Warin, who represented Petrobras, offers some tips inside.
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Brazilian state-owned energy company Petrobras announced it has met the obligations of a three-year agreement reached with the Department of Justice for playing a role in one of the world’s largest political corruption investigations.
The U.S. affiliate of global energy and commodity trading company Vitol will pay approximately $164 million to settle charges of bribery, corruption, and manipulative and deceptive conduct levied by multiple regulators, including historic involvement by the CFTC.
Petrobras said it has received 425 million reais (U.S. $112.3 million) from leniency agreements and repatriations carried out by Brazil’s Federal Prosecutor’s Office.
