Singapore authorities investigating Seatrium over potential offences linked to Brazil corruption case

Delayed Prosecutors AGREEMENT

The public prosecutor was in discussions with Seatrium about a deferred prosecution agreement ( DPA ) in March, according to the Attorney-General’s Chambers ( AGC ) and the Corrupt Practices Investigation Bureau ( CPIB ).

In exchange for the offender’s agreement to follow certain conditions, the prosecution agrees to postpone legal charges against the business. These may include business reform, economic penalties, and an apology for wrongdoing. &nbsp,

” Under the proposed DPA, the company will be required to give a financial penalties of US$ 110 million”, said the government. &nbsp,

” Of this number, US$ 53 million may be used to compensate the settlement payment totalling 670, 699, 731.73 Brazilian euros ( US$ 134.5 million ) under the in- process settlement agreements that the organization has reached with the government in Brazil”.

Seatrium claimed on April 1 that the High Court’s acceptance and agreement to the DPA will continue to be a condition.

It further stated that it would announce its decision once the prosecutor had approved and executed the clear DPA.

Two former Sembcorp Marine people and a company were accused of paying money to Portuguese officials in order to advance the interests of their businesses in Brazil earlier this year.