Samsung Heavy Industries pays $75 million to resolve FCPA offenses
One of the world’s biggest shipbuilders agreed Friday to pay $75 million in total penalties to resolve criminal FCPA offenses in Brazil.
The DOJ
charged South Korea’s Samsung Heavy Industries Company Limited in a one-count criminal information filed in federal court in Alexandria, Virginia.
The information charged the company with conspiracy to violate the FCPA’s anti-bribery provisions.
Samsung Heavy Industries
has shipbuilding and drydock facilities in Korea and China.
One of its specialties is building storage vessels and offshore platforms for customers in the oil and gas industry.
In Friday’s deal with the DOJ, SHI
entered into a three-year deferred prosecution agreement. The DPA requires the company to pay a total criminal penalty of $75.5 million.
SHI
will pay fifty percent ($37.75 million) of the total penalty “to the United States within 10 business days of the deferred prosecution agreement,” according to the DPA.
The remaining 50 percent
must be paid either to Brazilian authorities or, if not paid to them by November 25, 2020, to the DOJ.
The DOJ
said SHI has entered into a memorandum of understanding with
three Brazil enforcement agencies —
the Controladoria-Geral da União,
the Advogado-Geral da União,
and the Ministério Público Federal.
The FCPA Blog
https://fcpablog.com/2019/11/25/samsung-heavy-industries-pays-75-million-to-resolve-fcpa-offenses/