SBM has reached an adjourned lawsuit agreement as part of a complaint filed today in the Southern District of Texas accusing the company of conspiracy in violation of FCPA`s anti-corruption provisions. The case is referred to U.S. District Judge David Hittner. In addition, SBM USA pleaded guilty and was convicted by Judge Hittner for an hour-long complaint accusing the company of conspiracy to violate fcPA`s anti-bribery provisions. In accordance with its agreement with the Department, SBM agreed to pay a total fine of $238 million in the United States, including a US$500,000 fine and a $13.2 million fine that SBM agreed to pay on behalf of SBM USA. In Switzerland, three subsidiaries of the company have received a notice from the Federal Prosecutor`s Office in Bern. The question is to suspect that, from 2005 to 2012, these subsidiaries did not take the necessary measures to prevent the execution of corrupt payments during this period. The notification relates to legacy charges that the company has made in the Netherlands (2014) and Brazil (2018), as well as the agreement on late prosecutions with the United States. Suspicions about the failure to control compliance refer to the payments covered by these agreements. The agreements refer to a conspiracy to violate the U.S.
Corruption Practices Act. The resolution concerns Brazil, Equatorial Guinea, Angola, Iraq and Kazakhstan from 1996 to 2012. The company admits that it accepts and acknowledges that it is responsible for the actions of its officers, directors, employees and agents, in accordance with the U.S. Foreign Corrupt Practices Act, as stated in the documents submitted. In accordance with the provisions of the data protection authority, the DoJ agrees to postpone the company`s lawsuits for the duration of the CCA (three years). At the end of the data protection authority`s life and compliance with the conditions, the charges against the company are dismissed. The latest SBM offshore probe is linked to allegations it has resolved in the United States, Brazil and the Netherlands, the company said. SBM Offshore this month concluded a three-year declaration as part of a 2017 law enforcement agreement with the U.S. Department of Justice on corruption violations on three continents, the company said. In 2017, Brazil has played an important role in the global implementation of the fight against corruption. During the year, the largest leniency agreement in Brazil`s history was signed and the second largest was ratified by Brazilian courts…. Read more Agreements do not protect individuals from lawsuits, regardless of their membership in the company.
SBM Offshore will continue to cooperate with the DOJ in the context of the deferred court agreement and the guilty verdict. The Department reached this resolution on the basis of a number of factors, including the fact that, although SBM drew the attention of the Fraud Division of the Sentencing Division and the Dutch authorities to the conduct, it was not fully disclosed for about a year; that SBM cooperated with the ministry`s investigation, including an expedited investigation into corruption charges in Kazakhstan and Iraq; and that SBM has taken significant corrective action, including the termination and demotion of personnel involved in criminal behaviour, the end of long-standing agency agreements and the establishment of a new and improved system of internal controls to combat corruption and mitigate the risks of corruption and compliance.