REUTERS/Andrew Kelly/File PhotoWASHINGTON, Aug 10 (Reuters) - Colombian conglomerate Grupo Aval (GAA.CN) and its bank subsidiary will pay over $80 million to settle charges of violating anti-corruption laws, U.S. authorities said on Thursday.
After the settlement was reached, Grupo Aval said the Justice Department did not bring any enforcement action and the SEC did not make a claim against the company for bribery.
Corficolombiana will pay a criminal penalty of $40.6 million, the U.S. Justice Department said in a statement.
Corficolombiana had conspired with Brazilian construction firm Odebrecht to pay bribes to Colombian government officials, according to prosecutors.
Corficolombiana also agreed to continue enhancing its compliance program and providing reports to the Justice Department regarding remediation and the implementation of compliance measures, the Justice Department said.
Persons:
Andrew Kelly, Grupo Aval, Corficolombiana, Odebrecht, Kanishka Singh, Isabel Woodford, Leslie Adler, David Gregorio Our
Organizations:
U.S . Securities, Exchange Commission, Washington , D.C, REUTERS, Grupo Aval, U.S . Foreign, U.S . Justice Department, Securities and Exchange Commission, SEC, Grupo, Justice Department, Odebrecht, U.S, Thomson
Locations:
Washington ,, Colombian, disgorgement, Swiss, Peru, Mexico, Argentina, Colombia, U.S, Washington