Embraer successfully completes DPA stemming from FCPA charges

On November 25, 2020, the US District Court for the Southern District of Florida dismissed US Foreign Corrupt Practices Act charges against Brazilian aircraft manufacturer Embraer SA, finding that the Company had fully complied with all obligations under its 2016 deferred prosecution agreement.  This followed the Company’s June 2020 announcement that its monitorship had expired, after the Company’s monitor had delivered an April 13, 2020, final report to the US Department of Justice (DOJ) and US Securities and Exchange Commission (SEC).  That final report found that Embraer’s compliance program was “reasonably designed and implemented to detect and prevent violations of the anti-corruption laws.” 
 
In October 2016,  Embraer entered into a DPA with the DOJ and a separate agreement with the SEC to settle alleged violations of the anti-bribery and books and records provisions of the FCPA, and also resolved investigations by the Brazilian Federal Public Prosecutor’s Office and the Brazilian Securities and Exchange Commission into alleged violations of Brazilian laws.  Embraer paid more than $205 million in penalties and disgorgement to resolve these allegations, and in connection with its DOJ and SEC resolutions agreed to an independent monitorship for three years (beginning in February 2017), which was later extended for 90 days.  Embraer also subsequently entered into separate cooperation agreements with the Mozambican and Dominican authorities, under which it paid $7 million to the Dominican Republican and agreed to assist both countries in their ongoing investigations. 

Order granting motion to dismiss | Government's motion to dismiss Information | SEC Press Release - 2016

 

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