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Petrobras has agreed to pay $ 853.2 million in penalties for the "Lava Jato" corruption scandal that shook the Brazilian establishment and led to the imprisonment of former president Luiz Inácio Lula da Silva.
The deal, announced Thursday, is one of the largest corruption-related settlements. It resolves the claims of the US Department of Justice that the state-run oil company has violated the Foreign Corrupt Practices Act and related cases with the Securities and Exchange Commission and the Brazilian authorities.
Former Petrobras executives and board members have "facilitated the payment of hundreds of millions of dollars in bribes to Brazilian politicians and political parties, and then prepared the books to conceal the bribes of investors and regulators" said Brian Benczkowski.
Petrobras noted that she had not been charged and had not admitted paying bribes. In a statement, the company said that under the settlement, it had accepted "the responsibility under US criminal law for the actions of certain former leaders and officers of Petrobras resulting in violations of books and records."
Petrobras was at the center of a sprawling survey in Brazil, launched in 2014 under the name of Wash jato, or Car Wash, which resulted in 10 years in prison for Mr. Lula da Silva.
The investigation uncovered a system of corruption in which politicians and former directors of Petrobras received payments in exchange for multi-billion dollar contracts with construction and other companies.
Odebrecht, the Brazilian construction group also involved in the scandal, agreed to pay up to $ 2.6 billion to the Brazilian, US and Swiss authorities in 2016.
The scandal took a large part of Brazil's political and commercial elite, creating a strong anti-institutional sentiment ahead of the country's presidential election next month.
The US Department of Justice and the SEC will each receive 10%, or $ 85.3 million of the sentence, with Brazil receiving the remaining 80%, or $ 682 million.
Petrobras' non-suit agreement with the US Department of Justice includes agreements with the SEC and Brazil. The company will also cooperate with any investigation or prosecution arising from the allegations and improve its compliance program.
"The resolution is in the interest of Petrobras and its shareholders. It also puts an end to the uncertainties, risks, charges and costs of potential lawsuits and protracted litigation in the United States, "the company said.
Petrobras said the settlement amount would be deposited in a "special fund" in accordance with an agreement to be signed with Brazilian prosecutors.
Rising crude oil prices boosted Petrobras' cash position, allowing the company to increase net income by 30 times in the second quarter. Gabriel Fonseca, an analyst at XP Investimentos, said: "The amount to pay is very easy to manage because the company generates a lot of cash at current oil prices.
Petrobras reached a $ 2.95 billion settlement this year to end a US class action lawsuit in relation to the losses caused by the corruption scandal.
Additional report by Joe Leahy in São Paulo
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