Department of Justice drops Vantage Drilling corruption investigation

Department of Justice drops Vantage Drilling corruption investigation

Vantage Drilling International has announced that its been informed by the United States Department of Justice that an investigation into a deal with Petrobras has been closed without any action being taken.

The Department of Justice was investigating possible violations of the Foreign Corrupt Practices Act after allegations were made of improper payments were made to former officials of Petrobras during the contracting of drillship Titanium Explorer to Petrobras.

Ihab Toma, CEO of Vantage, commented: “We are very pleased with the closure of the DOJ’s investigation. Vantage has been, and remains, firmly committed to conducting its operations in compliance with all applicable laws and regulations, including the FCPA.”

A parallel investigation by the SEC remains open and Vantage says it will continue to cooperate fully with the SEC.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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