US fines shipbuilder over $75 million in bribe scheme

One of the world’s biggest shipbuilding companies agreed to pay $75.5 million to settle an investigation into a bribery scheme involving the sale of a $640 million offshore drilling ship to a Houston-based ship chartering company.

The shipbuilder, South Korea-based Samsung Heavy Industries, admitted to conspiring with others by providing approximately $20 million in commissions to a Brazilian intermediary, knowing that some of the money would be used to bribe…

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