Aircraft manufacturer Embraer has agreed to pay over $205 million as settlement with American and Brazalian authorities for resolving corruption charges in India and three other countries.
The corruption charges in India relate to alleged payment of $5.76 million to an agent in India in kickbacks for clinching a deal for the sale of three aircraft for the IAF’s Airborne Early Warning and Control System.
The CBI has already registered an FIR in the case. “The Securities and Exchange Commission (SEC) today announced a global settlement along with the US Department of Justice and Brazilian authorities that requires aircraft manufacturer Embraer SA to pay more than $205 million to resolve alleged violations of the Foreign Corrupt Practices Act (FCPA),” an official statement said. The SEC’s complaint alleges that Embraer made more than $83 million in profits as a result of bribe payments from its US-based subsidiary through third-party agents to foreign government officials in the Dominican Republic, Saudi Arabia, and Mozambique.