From RTTNews
TechnipFMC (FTI) agreed to pay a total of $296 million to resolve allegations the company bribed Brazilian and Iraqi officials, the U.S Justice Department said.
Technip USA and Technip’s former consultant pleaded guilty today in connection with the resolution, the Justice Department said.
Of the total fine amount, Technip will pay $214 million to Brazilian authorities, which brought a parallel case against the company, the Justice Department said.
The Justice Department said that, starting at least as early as 2003 and continuing until 2013, Technip and Singapore’s Keppel Offshore & Marine Ltd paid more than $69 million in inflated “commissions” to a consultant who passed on portions as bribes to Brazilian government officials at the state oil company Petrobras.
In a related matter in 2017, Keppel Offshore paid $422 million to authorities in the United States, Brazil and Singapore.
As part of the deferred prosecution agreement, TechnipFMC committed to implementing rigorous internal controls and to cooperate fully with the Department’s ongoing investigation.
In 2010, Technip entered into a $240 million resolution with the Department over bribes paid in Nigeria.
