December 20, 2016 / 8:32 PM / 8 months ago

Odebrecht, Braskem to pay $417.5 million in fines to U.S., Swiss governments: report

The headquarters of Odebrecht SA is pictured in Sao Paulo, Brazil, March 22, 2016.Paulo Whitaker/File photo

SAO PAULO (Reuters) - The Brazilian construction firm Odebrecht SA [ODBES.UL] and petrochemical company Braskem SA (BRKM5.SA) will pay 1.4 billion reais ($417.5 million) to the U.S. and Swiss governments as part of a settlement in a sweeping corruption case, a source close to the negotiations told Reuters Tuesday

The deals, first reported by the Folha de S.Paulo newspaper, will be announced on Wednesday, according to the source, who spoke on condition of anonymity as they were not allowed to discuss the case.

Sources previously told Reuters that U.S. and Swiss prosecutors were jointly negotiating with their Brazilian counterparts Odebrecht and Braskem's leniency deals for their roles in an investigation into a long-running scheme of political kickbacks at Brazil's state-run oil company Petrobras (PETR4.SA).

In the Odebrecht leniency deal, finalized with Brazilian prosecutors earlier this month, the firm agreed to pay 6.9 billion reais in fines.

Nearly 80 executives and employees of Odebrecht, seen as the biggest benefactor of the Petrobras graft scheme, also agreed to turn state's witness.

Their testimony could implicate upward of 200 politicians, prosecutors and lawyers for the company have said.

U.S. and Swiss prosecutors declined to comment, as did Odebrecht and Braskem's press offices.

Reporting by Tatiana Bautzer and Brad Brooks; Editing by Bernard Orr and Lisa Shumaker

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