Close

Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.

×

Status message

Start your free, no obligation 5-day trial to continue exploring with full access.

SBM Offshore: Justice Department reopens bribery probe

Jaclyn Jaeger | February 12, 2016

Dutch oil and gas company SBM Offshore announced this week that the U.S. Department of Justice has re-opened its past bribery investigation of the company concerning allegations of improper payments made to sales agents and foreign government officials in Equatorial Guinea, Angola, and Brazil.

As Compliance Week previously reported, the company in September 2014 reached a $240 million out-of-court settlement with the Dutch Public Prosecutor’s Office to resolve allegations that SBM Offshore paid approximately $200 million in commissions to foreign sales agents for services from 2007 through 2011. The largest part of these commissions, totaling $180.6 million, related to Equatorial Guinea, Angola, and Brazil.

At the time, SBM said the...

Buy this article for $49, or subscribe to Compliance Week for a month at $149 and get unlimited article access for 30 days.