Vantage settles with SEC over Brazil drillship bribery investigation

Offshore drilling company Vantage Drilling has agreed to pay a settlement fee and resolve the SEC’s investigation into a potential bribery case related to a drillship deal with Petrobras.

The driller on Monday said it had concluded the settlement with the United States Securities and Exchange Commission “resolving the SEC’s investigation into possible violations of the internal accounting control provisions of the U.S. Foreign Corrupt Practices Act (“FCPA”) by its former parent company, Vantage Drilling Company,”

“As part of the settlement, which arose out of VDC’s dealings with Petroleo Brasileiro S.A. (“Petrobras”), Vantage has agreed to pay $5 million. Vantage neither admitted nor denied any of the SEC’s allegations, except as to jurisdiction, which it admitted,” Vantage Drilling said on Monday.

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