November 14, 2019 / 4:22 PM / a month ago

Brazil construction firm OAS signs $461 mln leniency deal in corruption case

BRASILIA, Nov 14 (Reuters) - Brazilian construction firm OAS SA on Thursday signed a leniency deal with Brazil’s federal government, pledging to pay a total of 1.92 billion reais ($461 million) by 2047 after it was caught up in the sweeping “Car Wash” corruption probe.

OAS was one of many Brazilian engineering and construction groups accused of paying bribes and rigging public contracts in Brazil’s biggest-ever corruption scandal.

According to Brazil’s solicitor general and its comptroller general, the payment includes reimbursement of damages to public coffers, the return of illicit enrichment obtained through fraudulent contracts and a punitive fine.

The government said talks culminating in the agreement began in December 2018. OAS provided information and evidence on illegal acts committed by more than 304 individuals and 184 legal entities as part of the deal.

In a statement, OAS said the agreement “has a format and payment term that perfectly fits the company’s ability to comply, without compromising its cash flow, and which certainly strengthens legal certainty in the fight against corruption.”

$1 = 4.1637 reais Reporting by Ricardo Brito Editing by Tom Brown

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