In December 2023, Freepoint Commodities resolved a Foreign Corrupt Practices Act enforcement action in connection with a bribery scheme in Brazil.
The criminal charge of conspiracy to violate the FCPA’s anti-bribery provisions was resolved through a deferred prosecution agreement in which Freepoint agreed to pay approximately $98 million as well as a host of compliance and reporting obligations for the duration of the DPA.
Section 3 of the DPA titled “Term of the Agreement” stated:
“This Agreement is effective for a period beginning on the date on which the Information is filed and ending three years from that date (the “Term”).
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[I]n the event the Fraud Section and the Office find, in their sole discretion, that there exists a change in circumstances sufficient to eliminate the need for the reporting requirement in Attachment D, and that the other provisions of this Agreement have been satisfied, the Agreement may be terminated early.”
Earlier this week. the DOJ filed an “Unopposed Motion to Dismiss Information” stating in pertinent part.
“The term of the DPA is scheduled to expire on or about December 14, 2026.
On or about May 14, 2026, the Chief Executive Officer (“CEO”) and Chief Operating Officer of Freepoint each certified to the Government that Freepoint had met its disclosure obligations pursuant to paragraph 6 of the DPA.
On or about May 14, 2026, the CEO and Chief Compliance Officer of Freepoint each certified to the Government that Freepoint had met its compliance obligations pursuant to paragraphs 14–16 of the DPA.
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Based on information known to the United States, Freepoint has fully met its obligations under the DPA, including full cooperation with the Government and satisfaction of the terms of the provisions regarding self-reporting, and Freepoint has met its obligations to implement an enhanced compliance program and procedures. In addition, Freepoint made timely payments pursuant to the terms of the DPA satisfying its obligations to pay a total criminal monetary penalty of $68,000,000 and to forfeit $30,551,150. See id. ¶¶ 4, 9, 11.
As required by the DPA, Freepoint has represented that it will continue to cooperate with any investigations by the White Collar and Corporate Enforcement Section (formerly the Fraud Section) or the Office until all investigations and prosecutions arising out of such conduct are concluded. See id. ¶ 5.
Because Freepoint has fully complied with all of its obligations under the DPA, the Government has determined that early dismissal with prejudice of the Information is appropriate.
For the foregoing reasons, the Government requests that this Motion to Dismiss the Information be granted.”
Judge Kari Dooley (D. Conn) granted the motion.
