Singapore Arrests Former Keppel Execs in Brazil Bribery Probe

SINGAPORE, Feb 2 (Reuters) - Several former executives of Keppel Corp have been arrested by Singaporean authorities in a probe related to charges its rig-building unit bribed Brazilian officials, Singapore's Straits Times newspaper reported on Friday. Keppel Offshore & Marine in December agreed to pay $422 million to resolve investigations into the matter by authorities … [Read more...]

Keppel Posts First Quarterly Loss in 14 Years on Bribery Fine

SINGAPORE, Jan 25 (Reuters) - Singaporean conglomerate Keppel Corp swung to its first quarterly net loss in 14 years, after accounting for a huge fine its rig-building unit agreed to pay to resolve investigations into charges it bribed Brazilian officials. Keppel, last month, said its offshore rig-building business had agreed to pay more than $422 million to resolve the … [Read more...]

Ex-Keppel Lawyer Cooperated with U.S. in Brazil Bribery Probe -Documents

  By Nate Raymond Dec 28 (Reuters) - A former lawyer at Keppel Corp Ltd's oil rig building business secretly pleaded guilty and cooperated with U.S. authorities before the Singapore-based company agreed to pay $422 million to settle charges it bribed Brazilian officials, according to court documents. Jeffery Chow, a former senior member of Keppel Offshore & … [Read more...]

Keppel to Pay $422 Million to Settle Foreign Bribery Case in U.S., Brazil and Singapore

Singapore-based shipbuilder Keppel Offshore & Marine and its U.S. subsidiary have agreed to pay a total penalty of more than $422 million to resolve charges with authorities in the United States, Brazil and Singapore related to a decade-long scheme to pay millions of dollars in bribes to officials in Brazil, the U.S. Justice Dept. announced Friday. “The resolutions with … [Read more...]

Keppel’s Man in Brazil Says Managers Backed Bribes

By Sabrina Valle (Bloomberg) -- Keppel Corp.’s Brazil problems just keep growing. The world’s largest builder of offshore oil rigs has seen investments plummet in one of its most important markets. A major client, Sete Brasil Participacoes, has entered bankruptcy protection. Then last month a former agent fanned the flames of an ongoing corruption investigation by saying … [Read more...]