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International

Power firm to pay $2.5 million after bribery allegations

January 07, 2019 Reprints

Brazilian power firm Centrais Elétricas Brasileiras S.A. – Eletrobras has agreed to pay a civil penalty of $2.5 million related to violations of the internal accounting controls and recordkeeping provisions of the Foreign Corrupt Practices Act, Compliance Week reported. Eletrobras launched an internal investigation in 2015, following a testimony by the former CEO of industrial conglomerate Camargo Corrêa S.A., who alleged that the CEO of subsidiary Eletronuclear received illicit payments from a consortium of companies bidding on a power plant project.

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Power firm to pay $2.5 million after bribery allegations

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