Petrobras may need to pay US$1.6b in penalties
It expects to face largest fines ever levied by US authorities in a corporate corruption investigation
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Rio de Janeiro
BRAZIl'S Petrobras may need to pay record penalties of US$1.6 billion or more to settle US criminal and civil probes into its role in a corruption scandal, a person recently briefed by the company's legal advisers told Reuters.
State-run Petroleo Brasileiro SA, as the company is formally known, expects to face the largest penalties ever levied by US authorities in a corporate corruption investigation, according to the source, who has direct knowledge of the company's thinking. The settlement process could take two to three years, the source said.
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