Brazilian petrochemical firm to pay $957 mln to settle bribery charges

WASHINGTON : Brazilian petrochemical firm Braskem S.A. has agreed to pay $ 957 million to settle charges it created false books and records to conceal millions of dollars in bribes to Brazilian government officials, the U.S. Securities and Exchange Commission said on Wednesday.

The SEC said in a statement that Braskem S.A., whose stock trades in the United States, had agreed to pay $ 957 million in a global settlement with the SEC, the U.S. Justice Department, and authorities in Brazil and Switzerland.