Settlements

ST-520
CABU Chartering AS
-N/A-
Norway
OKOKRIM
Bahrain
2014
5/15
Unknown
Legal Person
Criminal
Penalty Notice
Criminal Fine and Confiscation
$5,401,300
$3,375,810
NA
$2,025,490
$0
$0
$0
NA
Art.16
Art. 1, Art. 2
Bribery of foreign officials
Bribery of foreign officials
Yes
According to a press statement issued by OKOKRIM, in the period July 2003-March 2004, CABU Chartering AS (parent company Rederiaksjeselskapet Torvald Klaveness) paid bribes to senior officials in Bahrain in connection with freight shipping agreements with Aluminum Bahrain BSC (ALBA), a majority state owned entity. (Source: OKOKRIM, "Millionforelegg for bestikkelser," May 15, 2014.). Also see related entries: ST-397 and ST-398 - Alcoa settlements with the US Department of Justice and the Securities and Exchange Commission.