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Keppel Offshore and Marine (KOM) has lastly absolutely resolved the case associated to deprave funds made by its agent to officers of Brazilian state-run oil firm Petrobras and Brazilian politicians between 2001 and 2014.
In 2017, the corporate reached a worldwide decision with authorities within the US, Brazil and Singapore, via which it was ordered to pay a positive of $422.2m to the three international locations.
Nonetheless, the Brazilian Legal professional-Common’s Workplace (AGU) and Comptroller Common of the Union (CGU) – mandated like Brazil’s Public Prosecutor’s Workplace, the authority concerned within the international decision, to implement sure anti-corruption legal guidelines – negotiated individually with Keppel. The corporate this week reached an settlement with the AGU and CGU to pay an additional $65m and conclude the lengthy case.
Keppel signed a leniency settlement with the Brazilian authorities, which it mentioned resulted from its “full cooperation with AGU’s and CGU’s investigations, which the 2 authorities recognised, together with KOM’s intensive remediation efforts and vital compliance enhancements.”
In line with The Edge Singapore, Keppel additionally dedicated to persevering with cooperation with AGU and CGU, and to ongoing compliance enhancements.
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