BRASILIA, July 12 (Reuters) - Brazilian federal prosecutors on Thursday charged the former chief executive of U.S. oil services company Vantage Drilling with corruption and money laundering, accusing him of offering $31 million in bribes to public officials. Federal prosecutors said in a statement that the charges against former CEO Paul Bragg related to irregularities in a … [Read more...]
Petrobras to Pay $2.95 Billion to Settle U.S. Class Action Over Corruption
By Brendan Pierson NEW YORK, Jan 3 (Reuters) - Brazil's state-controlled oil company, Petroleo Brasileiro SA, said Wednesday that it has agreed to pay $2.95 billion to settle a U.S. class action brought by investors seeking to recoup money they claim to have lost as a result of a corruption scandal. Petrobras, as the company is known, did not admit wrongdoing under the deal, … [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...]
Foreign Companies Named in Brazil’s “Car Wash” Probe
May 27 (Reuters) - Brazilian police said this week they were investigating local units of three international steelmakers in a massive corruption investigation involving the country's state-run oil company, Petroleo Brasileiro SA, or Petrobras. Prosecutors have identified at least 285 foreign companies that have done business with people who are under investigation, though … [Read more...]
Shipyards Named in Petrobras Suit
May 19 (Reuters) - Investment management firm EIG Management Co added Brazil's engineering conglomerate Odebrecht SA and a few other shipyards in its $221 million fraud suit against Petroleo Brasileiro SA. EIG, in a filing on Wednesday, alleged that Odebrecht SA and other shipyards along with Petrobras misled the firm to invest over $221 million to purchase equity … [Read more...]