6 ex-Keppel O&M employees warned over $73 million bribes, Latest Singapore News - The New Paper

6 ex-Keppel O&M employees warned over $73 million bribes

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The Corrupt Practices Investigation Bureau (CPIB) issued stern warnings on Wednesday to six former Keppel Offshore & Marine (O&M) senior management staff over bribe payments.

CPIB conducted investigations into the six employees, who allegedly conspired with one another to give bribes amounting to about US$55 million (S$73 million) to foreign consultants involved in Keppel O&M’s business interests in Brazil.

The money was then used to pay bribes to officials of Brazilian state-owned corporation Petroleo Brasileiro (Petrobras), pertaining to rigs-building contracts that Petrobras or its related companies had awarded to Keppel O&M.

The offences fall under the Prevention of Corruption Act.

Under a global resolution led by the United States Department of Justice and involving Brazil and Singapore, a conditional warning in lieu of prosecution was issued to Keppel O&M for offences punishable under the Act.

Keppel O&M has paid a total fine of US$422 million and fulfilled all obligations under the conditional warning.

“This case is complex and transnational, involving multiple authorities and witnesses from several countries... Many of the documents are located in different jurisdictions. In addition, key witnesses are located outside of Singapore and cannot be compelled to give evidence here,” said CPIB in a statement on Thursday.

“The decision whether to prosecute the six individuals for criminal offences has to take into consideration all relevant factors, such as the culpability of each individual, the available evidence and what is appropriate in the circumstances. Having taken these into consideration, stern warnings were issued to the six individuals.”