SEC Charges Gol Intelligent Airlines, Brazil's Second Largest Airline, with FCPA Violations
Washington D.C.--(Newsfile Corp. - September 15, 2022) - The Securities and Exchange Commission today charged Brazils second largest domestic airline, GOL Linhas Areas Inteligentes, for violating the Foreign Corrupt Practices Act (FCPA).
- Washington D.C.--(Newsfile Corp. - September 15, 2022) - The Securities and Exchange Commission today charged Brazils second largest domestic airline, GOL Linhas Areas Inteligentes, for violating the Foreign Corrupt Practices Act (FCPA).
- The So Paulo-based company, also known as Gol Intelligent Airlines, agreed to pay $70 million to settle the SEC charges.
- According to the SECs order, Gol bribed prominent Brazilian government officials in exchange for certain favorable payroll tax and aviation fuel tax reductions.
- Gol consented to a cease-and-desist order finding that it violated the anti-bribery, books and records, and internal accounting controls provisions of the FCPA.