SHI to Pay $75 Mln to Resolve Bribery Case

Maritime Activity Reports, Inc.

November 25, 2019

© denissimonov / Adobe Stock

© denissimonov / Adobe Stock

Samsung heavy industries Co Ltd has agreed to pay more than $75 million in criminal penalties to resolve a U.S. investigation of a scheme to pay millions of dollars in bribes to officials in Brazil, the U.S. Justice Department said on Friday.

Samsung Heavy has admitted to paying about $20 million to a Brazilian intermediary between 2007 and 2013 knowing that parts of it would be paid as bribes to officials in Brazil's state-run oil company Petrobras SA for a contract which facilitated the sale of a drill ship by Samsung Heavy, the Justice Department said in a statement.

Samsung Heavy will pay at least half of the total fine to the U.S. government under a deferred prosecution agreement filed in the Eastern District of Virginia, it said.


(Reporting by Mohammad Zargham; Editing by Sandra Maler)

Maritime Reporter E-News subscription

Maritime Reporter E-News is the maritime industry's largest circulation and most authoritative ENews Service, delivered to your Email five times per week

Subscribe for Maritime Reporter E-News