EIG Hits Keppel With $660M RICO Suit Over Brazil Bribery

Law360 (February 8, 2018, 2:15 PM EST) -- Funds managed by EIG Global Energy Partners have launched a $660 million racketeering suit in New York federal court against Keppel Offshore & Marine Ltd. over its role in a Brazilian bribery scheme connected to a failed drill ship venture, for which Keppel recently reached a $422 million criminal settlement with U.S. prosecutors.

The EIG funds are already pursuing a fraud case against the Brazilian state-owned Petroleo Brasileiro SA, or Petrobras, over the demise of Sete Brasil Participacoes SA amid the bribery scandal that rocked the South American nation. In a Racketeer Influenced and Corrupt Organizations Act complaint filed Tuesday, the...

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