Embraer Settles Bribe Cases with U.S. Justice and SEC and Agrees to Pay More than $107 Million

On October 24, 2016, Brazilian aircraft manufacturer Embraer S.A. agreed to resolve criminal charges and pay a penalty of more than $107 million in connection with schemes involving the bribery of government officials in the Dominican Republic, Saudi Arabia and Mozambique. It agreed to pay additional millions after being caught in a fraud relating to falsely recorded payments it made in India via a sham agency agreement. Embraer is subject to the Foreign Corrupt Practices Act in part because its stock is traded on the New York Stock Exchange as American depositary receipts (ADRs). In addition, some of the bribe payments came from its New York office, meaning that its officials in the U.S. were involved.  Embraer also had North American regional offices in Fort Lauderdale, Florida.