Brazil Charges 12 Individuals in Connection with Petrobras Investigation

Brazil Petrobras SBM Offshore N.V.

On December 21, Brazilian officials charged twelve individuals with corruption-related offenses in connection with a probe into the relationship between Petrobras and Dutch oilfield company SBM Offshore N.V.  Those charged include several former SBM Offshore executives, former SBM Offshore sales agents, and several former Petrobras executives. News reports state that the charges center on $46 million in allegedly corrupt payments made between 1998 and 2012. On December 17, SBM Offshore issued a statement that referred to ongoing discussions with Brazil’s Comptroller General’s Office and Attorney General’s Office to reach a settlement agreement and to secure disclosure of information relevant to the ongoing investigation into Petrobras.  Brazil’s actions follow SBM Offshore’s prior settlement with Dutch authorities over allegations that it bribed officials in Brazil, Angola, and Equitorial Guinea; SBM Offshore agreed to pay the Dutch Public Prosecutor’s Office $240 million as part of the settlement.  The company also had announced the conclusion of the DOJ’s investigation into the matters resolved with the Dutch.  Previous FCPA Scorecard coverage of SBM Offshore settlement and the Petrobas investigation can be found here and here.