05-02-2018

Singapore Arrests Former Keppel Execs in Brazil Bribery Case

A number of former executives of Keppel Corp have been arrested by Singaporean authorities in a probe related to charges its rig-building unit bribed Brazilian officials, Singapore’s Straits Times newspaper reported.
 
The report said that  six executives had been arrested by the Corrupt Practices Investigation Bureau (CPIB), including Tay Kim Hock, former president and chief executive of Keppel Fels Brasil, and are currently out on bail.
 
The former Keppel executives were reported to have been called in for questioning relating to a corruption scandal that saw Keppel agreeing to $422.2m in penalties in the US, Brazil and Singapore.
 
According to Reuters, Keppel Offshore & Marine in December agreed to pay $422 million to resolve investigations into the matter by authorities in the United States, Brazil and Singapore.
 
But Singapore’s Attorney-General’s Chambers (AGC) and the Corrupt Practices Investigation Bureau (CPIB) said at the time that investigations regarding the individuals involved were ongoing.
 
A CPIB spokesman said he was "unable to comment as investigations against the individuals involved are still ongoing".
 
According to media reports, by last week, several of Keppel O&M’s former executives were being represented by lawyers from Withers KhattarWong and WongPartnership, and had made their statements to the CPIB.
 
The matter will be referred to the Attorney-General’s Chambers (AGC) to decide if charges are to be filed.

Source: Marine Link

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