357 views
Logo from Keppel O&M

6 former Keppel O&M senior management staff issued stern warnings over corruption

They allegedly gave US$55m bribe payments to officers of Petrobras.

The Corrupt Practices Investigation Bureau (CPIB) issued stern warnings to six former senior management staff of Keppel Offshore & Marine Limited (KOM) after violating the Prevention of Corruption Act (PCA).

The agency said the offences of the former KOM staff relate to bribe payments to officials of Brazilian state-owned corporation Petróleo Brasileiro S.A. (Petrobras). Petrobras has rigs-building contracts with KOM.

“The six individuals allegedly conspired with each other to give bribe payments totalling about US$55 million to foreign consultants involved in KOM’s business interests in Brazil. These consultants then used these monies to pay bribes to Petrobras officials,” CPIB reported.

KOM, which also received a conditional warning for offences punishable under the PCA, had already paid a US$422m fine. 

The company had also fulfilled all obligations under the conditional warning, according to the CPIB.

“The decision whether to prosecute the six individuals for criminal offences has to take into consideration all relevant factors, such as the culpability of each individual, the available evidence and what is appropriate in the circumstances. Having taken these into consideration, stern warnings were issued to the six individuals,” the agency added.
 

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!