MARUAH issues a stern statement on Keppel corruption case

MARUAH issues a stern statement on Keppel corruption case

The Independent·2018-01-07 19:26

The following is a statement from Maruah

We refer to the TODAY article (Keppel O&M corruption case a black eye for Singapore Inc., 27 Dec 2017) and wish to highlight the negative effects of Keppel Offshore & Marine’s (KOM) corrupt practices on human rights and development.

Based on details released by the US Department of Justice, KOM paid US$55 million in bribes to Brazilian state-owned oil company Petrobras, Sete Brasil and to Partido dos Trabalhadores (PT), the then-governing political party in Brazil. But it now has to pay a fine of US$422.2 million, as part of a global resolution with the authorities in United States, Brazil and Singapore, and it has also taken disciplinary action against 17 current and former employees.

Meanwhile, in Brazil, former President Luiz Inácio Lula da Silva was recently sentenced to nearly 10 years jail for corruption, as part of a huge ongoing corruption investigation involving companies overcharging Petrobras via cartels, then bribing Petrobras officials who facilitated such contracts, who in turn paid bribes to politicians, who retained those Petrobras officials.

Singapore Business Corruption