Gol admits bribery and signs agreement to pay US$ 41.5 million in fines in the US and Brazil

The airline Gol (GOLL4) has agreed to pay US$ 41.5 million (about R$ 218 million at the current price) to end investigations of bribery to authorities in Brazil and the United States, informed the US Department of Justice (DoJ). ), the company itself and Brazilian authorities this Thursday (15).

According to the U.S. Department of Justice, the company admitted to paying about $3.8 million in bribes in Brazil between 2012 and 2013 to secure the passage of laws favorable to the company. The American official also says that the changes financially benefited not only Gol, but also other Brazilian airlines. (see more below).

The agreement provides for the payment of fines in both countries: US$ 17 million to the DoJ and US$ 24.5 million to the SEC (Securities and Exchange Commission, the American CVM), in the US, in addition to US$ 3.4 million for the Office of the Comptroller General (CGU) and the Attorney General’s Office (AGU), in Brazil. The fine that will be paid to the Brazilian authorities may be deducted from the payments to the US authorities.

wanted by InfoMoney, Gol stated that “it concluded on this date the agreements with the CGU, the DoJ and the SEC due to investigations into immaterial payments made in 2012 and 2013 to politically exposed persons in Brazil”. He also said that the payments included “Brazilian government officials” and were reported by Gol itself to the SEC and the CVM (Brazilian Securities and Exchange Commission) in December 2016 — and that this was “widely disclosed in the company’s annual 20-F document.” .

Gol also said that it had contracted an “external and independent investigation”, completed in April 2017 and “shared with the authorities”, and that it “cooperated fully with all relevant authorities in the United States and Brazil” – which was highlighted by Gol. DoJ in its statement.

CGU and AGU said in a joint note that they signed a leniency agreement of BRL 14.2 million with Gol and that the company itself sought out the institutions, in 2020, “to report illicit acts related to payments made to public agents or third parties. related to them”. “The company effectively cooperated with the authorities in their investigations, which was reflected in the mitigation of sanctions applied.”

None of the parties revealed, however, the names of the “government authorities”, the “public agents” and the “politically exposed persons” who received bribes from Gol.

the bribe payment

According to the US Department of Justice, the company admitted to having conspired to pay around US$3.8 million (R$20 million) in bribes in Brazil between 2012 and 2013 to secure the passage of laws favorable to the company. . The US official says the changes in legislation involved cuts in payroll and fuel taxes, which financially benefited not only Gol but other Brazilian airlines as well.

The DoJ statement says that the bribe paid by the company was accounted for in the company’s balance sheet and that “to effect the bribery scheme, a member of Gol’s Board of Directors had Gol enter into mock contracts and make payments to various entities. linked to relevant Brazilian authorities”. “Gol records falsely listing corruption payments as legitimate expenses, including expenses for advertising and other services.”

The US official also said that the $17 million fine was imposed “due to Gol’s financial condition and demonstrated inability to pay the fine calculated in accordance with US penalty guidelines” and praised the Brazilian company’s conduct. “Gol took full credit for its cooperation with the investigation” and “promptly engaged in corrective measures, among other things, redesigning its entire anti-corruption program.”

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About Yadunandan Singh

Born in 1992, Yadunandan approaches the world of video games thanks to two sacred monsters like Diablo and above all Sonic, strictly in the Sega Saturn version. Ranging between consoles and PCs, he is particularly fond of platform titles and RPGs, not disdaining all other genres and moving in the constant search for the perfect balance between narration and interactivity.

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