The Department of Justice reports that an international commodities trading company will pay more than $126 million after pleading guilty to violating the Foreign Corrupt Practices Act. This figure includes an $80.5 million criminal fine as well as $46.5 million in forfeiture.

According to a DOJ press release, between approximately 2003 and 2014 the company and its coconspirators paid bribes to Brazilian government officials to secure business with a state-owned and state-controlled company. The bribe payments were concealed through the use of shell companies and by funneling payments through intermediaries that used offshore bank accounts to deliver cash to officials in Brazil. The company saw about $61 million in profits from this scheme.

The DOJ said the company received credit for its cooperation with the department’s investigation and its affirmative acceptance of responsibility. The company also engaged in remedial measures, including (1) developing and implementing enhanced, risk-based policies and procedures, (2) enhancing processes and controls around high-risk transactions, (3) investing additional resources in employee training and compliance testing, (4) enhancing ongoing compliance monitoring and controls testing processes, and (5) proactively discontinuing the use of third-party agents for business origination.

However, the DOJ also noted that the company failed to preserve and produce certain documents and evidence in a timely manner, at times took positions that were inconsistent with full cooperation, and was slow to exercise disciplinary and remedial measures for certain employees whose conduct violated company policy. The DOJ also noted the company’s prior misconduct, including the entry of goods by means of false statements in 2006 and a violation of Dutch export and environmental laws in 2010.

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