Straits Herald February 1, 2020

After European aerospace giant Airbus agreed to pay 3.6 billion euros ($4 billion) to Britain, France and the United States to settle a corruption probe, here are examples of other mega companies that have done the same.


In 2016 the Brazilian construction giant Odebrecht and its petrochemicals subsidiary Braskem, mired in Latin America’s sprawling Petrobras scandal, agreed to pay $3.5 billion to settle a vast international bribery case.

The fines to the Brazilian, Swiss and US authorities — $2.6 billion for Odebrecht and $957 million for Braskem — were described by the US Justice Department as the “largest-ever global foreign bribery resolution.”

Petrobras itself was also forced to pay $853 million in 2018 to US and Brazilian authorities.

Societe Generale

In 2018 France’s second biggest bank Societe Generale agreed to pay $1.34 billion to resolve cases in the United States and France over its alleged manipulation of Libor interbank rates.

It paid a total of $860 million to the US Justice Department of which $585 million was to settle enquiries into its dealings between 2004 and 2009 with the regime of slain Libyan dictator Moamer Kadhafi.

Goldman Sachs

In January 2020 US investment bank Goldman Sachs indicated it had set aside $1.24 billion in anticipation of settlements in the 1MDB Malaysian investment fund scandal, in which some of its ex high officials had allegedly been involved.

The bank had helped raise $6.5 billion for the now defunct Malaysian sovereign wealth fund, getting $600 million in commission.

The money raised is alleged to have gone to the disgraced former Malaysian leader Najib Razak to finance a life of luxury for him and his family, according to the US and Malaysian authorities. Razak has denied any wrongdoing.


In December 2019 Swedish telecoms giant Ericsson accepted to pay $1 billion as part of an amicable settlement with the US Justice Department which had accused it of bribery spanning five countries.

“Ericsson’s corrupt conduct involved high-level executives and spanned 17 years and at least five countries, all in a misguided effort to increase profits,” Brian Benczkowski, head of the Justice Department’s criminal division, said.

The group paid $520 million under an accord with the department and $540 million to the stock exchange watchdog. – AFP