Oil Services Co. SBM Warns Of Possible Bribery Charges

Law360, New York (April 3, 2013, 6:21 PM EDT) -- Dutch oil drilling services business SBM Offshore cautioned investors Wednesday that it could face criminal charges in the U.S. and Amsterdam after an internal review found it may have attempted to bribe African government officials to secure business.

SBM said in a shareholder prospectus that during a review of its operations in Africa, “indications have surfaced that the company has paid substantial sums, mostly through intermediaries, which appear to have been intended for governmental officials.”

The company said it voluntarily disclosed its investigation in 2012 to...
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