Keppel O&M sanctioned 17 current, former employees over Brazil bribery case: document

(Dec 29): Keppel Corp's rig-building unit has taken disciplinary action against 17 current and former employees as part of its Brazil bribery case, a US court document showed, including US$8.9 million ($11.8 million)  of financial sanctions, demotions and departures.

The measures were revealed after the Singapore-based company agreed to pay US$422 million to settle charges it bribed Brazilian officials, including some at state-run oil company Petrobras.

Singapore authorities are investigating individuals involved. In the document seen by Reuters, US authorities listed remedial measures taken by Keppel Offshore & Marine as part of 'relevant considerations' toward the deferred prosecution agreement the firm signed as part of the settlement.

---

Related Stories

• New Petrobras CEO pledges investor returns after recent upheavel
• Seatrium shares jump more than 10% following $11 billion order win from Petrobras
• Seatrium wins $11 billion order from Brazil

---