Singapore-Based Company Agrees to Joint Criminal Settlement with 3 Countries

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Friday, January 5, 2018
Author: 
Bruce Zagaris
Volume: 
34
Issue: 
1
Abstract: 

On December 22, 2017, Keppel Offshore & Marine Ltd. (KOM), a company based in Singapore that operates shipyards and repairs and upgrades shipping vessels, and its wholly owned U.S. subsidiary, Keppel Offshore & Marine USA Inc. (KOM USA), agreed to resolve criminal charges and pay a combined total penalty of more than $422 million to resolve charges with law enforcement authorities in the United States, Brazil and Singapore.  The case arises out of a scheme dating back ten years to pay millions of dollars in bribes to officials in Brazil.  KOM is the largest builder of oil rigs in the world.