Brazilian construction giant Odebrecht SA has agreed to extend the monitorship and other terms of its plea agreement with the U.S. Justice Department for almost nine months, according to court filings. Odebrecht pleaded guilty in 2016 to a criminal charge of allegedly conspiring to violate U.S. foreign bribery laws and entered into a plea agreement with the DOJ. The company now has until Nov. 16 to fulfill obligations under the extended plea agreement, prosecutors said. Odebrecht said in a statement that the temporary suspension and extension of the monitorship was “due to financial issues with the monitors” as a result of the company’s reorganization. “At no time did Odebrecht fail its commitment to comply with the recommendations arising from its leniency agreement,” the statement said.

Source: Wall Street Journal February 04, 2020 23:37 UTC