Editor's note: This story has been updated from a previous version reported by Reuters.
SBM Offshore has signed a Deferred Prosecution Agreement (DPA) with the U.S. Department of Justice resolving the reopened investigation into the company’s legacy issues and the investigation into the company’s relationship with Unaoil As part of the overall resolution, SBM Offshore USA, Inc. a U.S. subsidiary of SBM Offshore, pleaded guilty to a single count of conspiracy to commit a violation of the U.S. Foreign Corrupt Practices Act.
The company and SBM Offshore USA, Inc. agree to pay monetary penalties in the total amount of US$238 million.
The agreements relate to a conspiracy to violate the U.S. Foreign Corrupt Practices Act. The resolution references Brazil, Equatorial Guinea, Angola, Iraq and Kazakhstan from 1996 until 2012. SBM Offshore admits, accepts, and acknowledges that it is responsible under the U.S. Foreign Corrupt Practices Act for the acts of its officers, directors, employees, and agents as set out in the filed documents. Under the terms of the DPA, the DoJ agrees to defer prosecution of the company during the term of the DPA (three years). After completion of the term of the DPA and fulfillment of the conditions, the charges against the SBM Offshore will be dismissed.
SBM Offshore agrees to pay total monetary penalties in the amount of US$238 million, of which it will pay on behalf of its U.S. subsidiary, SBM Offshore USA, Inc. US$500,000 as a criminal fine and a forfeiture of US$13.2 million as part of the subsidiary’s guilty plea. The penalties and forfeiture of the Company’s resolution with the Dutch authorities in 2014 and the amounts provisioned by the Company for resolution of its legacy issues in Brazil have been taken into account.
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