Monday, April 19, 2021

Brazil charges former Vantage Drilling chief with corruption

-

Brazilian federal prosecutors on Thursday charged the former chief executive of U.S. oil services company Vantage Drilling with corruption and money laundering, accusing him of offering $31 million in bribes to public officials.

Federal prosecutors said in a statement that the charges against former CEO Paul Bragg related to irregularities in a 2009 contract worth $1.8 billion to charter a drill ship to state-run oil firm Petroleo Brasiliero SA.

Reuters was unable to locate Bragg or his representatives. Bragg was CEO of the Houston-based company from 2006 to 2016. In a 2015 news release by Vantage, Bragg said there was no evidence of wrongdoing by Vantage or “any personnel associated with Vantage.”

- Advertisement -

Vantage Drilling did not immediately respond to request for comment.

The charges against Bragg were the latest in the sprawling “Operation Car Wash” probe into a cartel scheme through which kickbacks were offered by companies for government projects.

The probe and related investigations have implicated hundreds of government officials and corporate executives. 

- Advertisement -
- Advertisement -

NEWSLETTER

Get our daily notification on the latest financial crimes news around the World

MUST READ

- Affiliate Products -

Advertisement
Advertisement

This Week

Enable Notifications    OK No thanks