October 24, 2016 / 4:16 PM / 2 years ago

Embraer reaches $206 mln graft settlement with U.S. and Brazil

SAO PAULO, Oct 24 (Reuters) - Brazilian planemaker Embraer SA on Monday reached an agreement with U.S. and Brazilian authorities to settle a six-year corruption investigation, paying $206 million to turn the page on signs of graft in four foreign contracts.

Embraer said an internal probe, launched in 2010 after receiving a subpoena in the United States, found evidence of wrongdoing in deals with Saudi Arabia, India, Mozambique and the Dominican Republic in the five years through 2011. The fine due to U.S. and Brazilian authorities is in line with a $200 million provision Embraer made in July. (Reporting by Brad Haynes; Editing by Daniel Flynn)

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