Brazil’s Odebrecht Agrees to Extend Monitorship for Another Nine Months

Brazilian construction giant Odebrecht SA has agreed to extend the monitorship and other terms of its plea agreement with the U.S. Justice Department for almost nine months, according to court filings, The Wall Street Journal reported. Odebrecht pleaded guilty in 2016 to a criminal charge of allegedly conspiring to violate U.S. foreign bribery laws and entered into a plea agreement with the DOJ. The company allegedly paid hundreds of millions of dollars in bribes to public officials in Brazil and abroad to win lucrative infrastructure contracts between 2001 and 2016, according to the plea agreement. As part of the plea deal, Odebrecht agreed to retain an independent compliance monitor for three years and adopt and implement a compliance and ethics program. The monitorship was originally set to expire on Feb. 20. Read more