Settlements

ST-102
Bribery by Oil Services and Freight Forwarding Companies / Transocean Inc.
Bribery by Oil Services and Freight Forwarding Companies
United States
Department of Justice
Nigeria
2010
11/04
Unknown
Legal Person
Criminal
Deferred Prosecution Agreement
Criminal Fine
$13,440,000.00
$13,440,000
$0
Art.16, Art.26
Art. 1, Art. 2, Art. 8
Conspiracy to falsify books and records, Conspiracy to aiding and abetting falsification of books and records
Conspiracy to falsify books and records, Conspiracy to aiding and abetting falsification of books and records
No (Customs)
According to the US Department of Justice Press Release, "Transocean Inc., a Caymans Island subsidiary of Transocean Ltd. (collectively "Transocean"), was charged today in a criminal information with conspiring to violate the anti-bribery and books and records provisions of the FCPA; violating the anti-bribery provision of the FCPA; and aiding and abetting the violation of the books and records provisions of the FCPA. Transocean Ltd. is a global provider of offshore oil drilling services and equipment based in Vernier, Switzerland. The charges relate to approximately $90,000 in bribes paid by Transocean Inc.'s freight forwarding agents in Nigeria to Nigerian customs officials to circumvent Nigerian customs regulations regarding the import of goods and materials and the import of Transocean's deep-water oil rigs into Nigerian waters. The department and Transocean have agreed to enter into a deferred prosecution agreement that requires, among other things, Transocean Inc. to pay a $13.44 million criminal penalty." (Source: US Department of Justice Press Release, "Oil Services Companies and a Freight Forwarding Company Agree to Resolve Foreign Bribery Investigations and to Pay More Than $156 Million in Criminal Penalties," November 4, 2010.)