Brazilian construction firm UTC fined 175 mln USD for corruption

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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.┬áBrazil’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.┬áThe money will be used to pay back damages caused to Petrobras, electrical utility Eletrobras, and the federal rail company, Valec.