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Montevideo, November 17th 2018 - 00:44 UTC

SBM Offshore reaches out of court settlement with Brazilian prosecution

Wednesday, January 27th 2016 - 08:20 UTC
Full article 5 comments
CEO Bruno Chabas, and Sietze Hepkema from the supervisory board, has agreed to a settlement which will be paid by the Amsterdam-based company. CEO Bruno Chabas, and Sietze Hepkema from the supervisory board, has agreed to a settlement which will be paid by the Amsterdam-based company.
“SBM emphasizes that this settlement does not involve an admission of guilt and remains of the opinion that the accusations are without merit” “SBM emphasizes that this settlement does not involve an admission of guilt and remains of the opinion that the accusations are without merit”

SBM Offshore’s CEO and another company executive have agreed an out-of-court settlement with the Brazilian public prosecutor’s office (Ministério Público Federal) for charges relating to the Petrobras corruption scandal.

 Bruno Chabas, SBM Offshore’s CEO, and Sietze Hepkema, a member of the company’s supervisory board, have agreed to a settlement of BR250,000 ($60,000) each, which will be paid by the Amsterdam-based company. The settlement is subject to confirmation from a judge.

“The company emphasizes that this settlement does not involve an admission of guilt and remains of the opinion that the accusations are without merit,” SBM Offshore commented on Tuesday.

“However, SBM Offshore also believes that accepting the settlement offers a pragmatic opportunity to expeditiously resolve this matter that avoids long and costly legal proceedings and allows the company’s management team to concentrate on the business.”

In December, Chabas and Hepkema appeared on a list of former Petrobras executives, sales agents and SBM Offshore executives who may be prosecuted in Brazil in relation to the scandal, in which executives from the Brazilian state energy company received bribes in exchange for work contracts.

State prosecutors say that, from 2004, certain Petrobras officials colluded with a cartel of companies to overcharge the oil company for construction and service work. Petrobras’ confederates were rewarded with bribes, much of which was allegedly shared with Brazilian politicians.

Categories: Energy & Oil, Politics, Brazil.

Top Comments

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  • Brasileiro

    As statement of servers corrupted the unlawful practice began in 1995. In the FHC government and in 1998 was already institutionalized at Petrobras. Including President Cardoso received 100 million dollars in bribes.

    Cardoso also sold the Vale in 1997 for $ 3 billion when the market price was $ 100 billion.

    The PSDB is the most corrupt political party in the world.

    http://www1.folha.uol.com.br/poder/2016/01/1728339-ex-diretor-da-petrobras-delator-cita-propina-de-us-100-mi-a-governo-fhc.shtml

    Jan 27th, 2016 - 09:34 am 0
  • golfcronie

    Brasso, do no repeat this as this is confidential, ALL of your political parties are corrupt whichever party you talk about.

    Jan 27th, 2016 - 10:56 am 0
  • yankeeboy

    When bribes are required to do business in a country its hard to walk away from them.
    Its how Siemens and a lot of the EU companies get so many deals and the USA can't compete. The EU just turns a blind eye to it.

    The USA will straighten it out though.
    Corruption charges are just starting for all of these Brazilian criminals.
    Its not near done yet
    PBR et al won't be able to afford the fines

    Jan 27th, 2016 - 11:45 am 0
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