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 10-day trial to continue exploring with full access.

SBM Offshore to pay $238M to resolve FCPA case

Jaclyn Jaeger | December 1, 2017

Dutch oil and gas services company SBM Offshore, and its wholly owned U.S. subsidiary SBM Offshore USA, this week agreed to resolve criminal charges and pay a criminal penalty of $238 million in connection with schemes involving the bribery of foreign officials in Brazil, Angola, Equatorial Guinea, Kazakhstan, and Iraq in violation of the Foreign Corrupt Practices Act. SBM USA pleaded guilty this week in connection with the resolution.

“This corrupt scheme involved some of the highest-level executives within the company, spanned five countries, and lasted for more than a decade,” said Acting Assistant Attorney General John Cronan.

SBM entered into a deferred prosecution agreement in connection with a criminal information filed Nov. 29 in the Southern District of Texas charging the company with conspiracy to violate the anti-bribery... To get the full story, subscribe now.