SANTIAGO, Chile — U.S. authorities say Latin America’s largest ******* has agreed to some $22 million in civil and criminal fines in connection with a scheme to pay bribes to end a labour ****** in Argentina a decade ago.
Chile-based carrier LATAM will pay $12.75 million to the U.S. Justice Department and $9.4 million including interest to the U.S. Securities and Exchange Commission.
The penalties stem from an ************* into payments made in 2006 by LAN airlines, which merged with Brazil’s TAM in 2012 to create LATAM.
The Justice Department said in a Monday statement that LAN had entered into a “fictitious $1.15 million consulting agreement with an advisor to the Secretary of Argentina’s Ministry of Transportation.” It said no consulting services were provided and the money was funneled to union officials.