Petrofac Fined $95M For Middle East Bribery Scheme

By Richard Crump (October 4, 2021, 11:15 AM BST) -- Petrofac was ordered to pay $95.3 million at a London court on Monday, while a former executive was spared imprisonment over a string of bribery charges in connection with corrupt payments for contracts worth billions of dollars in the Middle East.

Petrofac has pleaded guilty to failing to prevent its employees from paying $44 million in bribes between 2011 and 2017 to win contracts worth $3.66 billion in the Middle East. (Photo Illustration by Rafael Henrique/SOPA Images/LightRocket via Getty Images) Judge Deborah Taylor imposed the sanctions at Southwark Crown Court after the oil services company pleaded guilty to seven offenses of failing...

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