Camargo Corrêa receives record fine for role in Petrobras scandal

Brazilian construction conglomerate Camargo Corrêa has received a reduced fine of US$29.9 million and agreed to pay US$200 million in compensation to three state-run energy companies, after it admitted to Brazil’s antitrust authority CADE that it took part in a cartel fixing bids and contracts with state-run energy company Petrobras – the first cease-and-desist agreement signed in connection with Operation Lava Jato and the largest fine demanded under such a deal.

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