November 29, 2017

SBM Offshore N.V., a Netherlands-based company specializing in the manufacture and design of offshore oil drilling equipment, and its wholly-owned U.S. subsidiary SBM Offshore USA Inc., agreed to resolve criminal charges and pay a criminal penalty of $238 million for violating the Foreign Corrupt Practices Act (FCPA) in connection with schemes involving the bribery of foreign officials in Brazil, Angola, Equatorial Guinea, Kazakhstan and Iraq.  According to company admissions, SBM paid more than $180 million in commissions to intermediaries, knowing that a portion of those commissions would be used to bribe foreign officials and that SBM gained at least $2.8 billion from projects it obtained from these illicit payments.  DOJ

Tagged in: FCPA,