Brazilian construction firm UTC fined 175 mln USD for corruption


July 10, 2017

Brazilian construction engineering company, UTC Engenharia S.A., one of the country’s largest, will pay 574 million reais (175 million U.S. dollars) as a fine for its role in the Petrobras corruption ring. Brazil’s comptroller general announced on Monday that UTC had signed a leniency agreement in which it admitted the damages it had caused through its corrupt acts and committed to repairing these damages. The money will be used to pay back damages caused to Petrobras, electrical utility Eletrobras, and the federal rail company, Valec.