Braskem, whose U.S. receivers of deposit (ADRs) are publicly traded on the New York Stock Exchange, pleaded separately guilty to filing a criminal investigation filed in New York`s Eastern District on one count accusing him of conspiracy to violate the FCPA`s anti-corruption provisions. Braskem agreed to pay a total fine of $US 632 million. The conviction is not yet foreseen. Braskem has also reached an agreement with the U.S. Securities and Exchange Commission (SEC), the Ministerio Publico Federal in Brazil and the Federal Public Prosecutor`s Office in Switzerland. Under the terms of its resolution with the SEC, Braskem has agreed to an auction for a total of $325 million. Braskem agreed to pay 70% of the total fine to the Brazilian authorities and agreed to pay 15% to the Swiss authorities. The department has agreed to credit the criminal sanctions paid to the Brazilian and Swiss authorities as part of its agreement with the company. The United States will receive $US 94.8 million, an amount corresponding to 15 percent of the total fine paid by Braskem. Within the framework of their respective pleading agreements, Odebrecht and Braskem are required to continue their cooperation with law enforcement agencies, including in the investigation and prosecution of those responsible for criminal conduct. Odebrecht and Braskem have also agreed to implement improved compliance procedures and maintain independent compliance monitors for three years.

The cases are assigned to U.S. District Judge Raymond J. Dearie of the Eastern District of New York. Doj Letter| | DOJ Press Release (2016) As part of the Plea Agreement, the United States will credit the amount paid by Odebrecht to Brazil and Switzerland for the duration of their respective agreements, with the United States and Switzerland each receiving 10% of the total penalty capital and Brazil the remaining 80%. The fine is subject to an insolvency analysis that must be concluded by the Ministry of Justice and the Brazilian authorities on March 31, 2017 or before March 31, 2017, as Odebrecht estimated that it could only pay about $2.6 billion during the respective agreements. Sentencing is scheduled for April 17, 2017. The company appointed Guy Singer and Billy Jacobson of Orrick Herrington &Sutcli#e in New York American and Brazilian instructor. The couple concluded that, according to MPF, the company had fulfilled all of its obligations in Brazil under the 2016 agreement. .

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