Power firm to pay $2.5 million after bribery allegations
Posted On: Jan. 7, 2019 4:46 AM CSTBrazilian 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.