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Harry Cassin Publisher and Editor

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Richard L. Cassin Editor at Large

Elizabeth K. Spahn Editor Emeritus 

Cody Worthington Contributing Editor

Julie DiMauro Contributing Editor

Thomas Fox Contributing Editor

Marc Alain Bohn Contributing Editor

Bill Waite Contributing Editor

Shruti J. Shah Contributing Editor

Russell A. Stamets Contributing Editor

Richard Bistrong Contributing Editor 

Eric Carlson Contributing Editor

Bill Steinman Contributing Editor

Aarti Maharaj Contributing Editor


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Monday
Jun022014

Snamprogetti pays $5.7 million to Africa Development Bank for TSKJ bribes

Snamprogetti Netherlands B.V. agreed to pay the Africa Development Bank $5.7 million in penalties for bribery related to contracts for liquefied natural gas production plants on Bonny Island, Nigeria.   

The AfDB announced the Negotiated Resolution Agreement on May 28.

The bank has now collected $22.7 million in fines from Snamprogetti and the three other TSKJ Nigeria consortium partners.

In late March, the AfDB announced a settlement of $17 million with Kellogg Brown & Root LLC, Technip S.A., and JGC Corp., with KBR paying $6.5 million, Technip $5.3 million, and JGC $5.2 million.

From 1995 to 2004, the TSKJ companies paid $180 million in bribes to Nigerian officials in return for Bonny Island contracts worth $6 billion.

The African Development Bank said it contributed $100 million in financing to the project.

In the U.S., the four TSKJ partners paid $1.5 billion to settle FCPA charges with the DOJ and SEC. KBR and former parent Halliburton paid $579 million, Snamprogetti paid $365 million, Technip $338 million, and JGC $218.8 million.

The AfDB has debarred TSKJ and some affiliated companies for three years, with likely cross debarment by the Asian Development Bank, the European Bank for Reconstruction and Development, the World Bank Group, and the Inter-American Development Bank Group.

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Richard L. Cassin is the publisher and editor of the FCPA Blog. He can be contacted here.