Keppel Bribery Saga Why Isn’t AGC and CPIB prosecuting those involved

One corruption on top of another corruption?

I read that AGC has only given “conditional warning” to those involved in the bribery acts..

My question is why didn’t CPIB press charges to those involved?

This seems rather unusual to me. Why would Corruption act of such scale warrant only a “conditional warning” ?

I’ve worked in large Fortune companies and frankly what Keppel did, ie. Funneling bribery money through an intermediary with an arm length approach is common practice AND it is done with the knowledge of the highest level (CEO and CFO). It is certainly not just some antics by mid level executives. So mid level or even director level being fired are just scapegoats in such cases.

You think anybody else other than CFO and CEO could sign off some $50m payments and without the CEO, CFO asking for details of such payments?

Muddy Waters
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Arrests....

Several former executives of Keppel Corp have been arrested by Singaporean authorities in a probe related to charges its rig-building unit bribed Brazilian officials, Singapore's Straits Times newspaper reported on Friday.

Keppel Offshore & Marine in December agreed to pay $422 million to resolve investigations into the matter by authorities in the United States, Brazil and Singapore.

But Singapore's Attorney-General's Chambers (AGC) and the Corrupt Practices Investigation Bureau (CPIB) said at the time that investigations regarding the individuals involved were ongoing.

The Straits Times said more than six people were currently out on bail connected with case.

A CPIB spokesman said he was "unable to comment as investigations against the individuals involved are still ongoing". The AGC declined to comment.

A spokesman for Keppel Offshore & Marine said: "We are unable to comment on any investigations by the authorities."

Keppel Offshore & Marine has taken disciplinary action against 17 current and former employees in relation to the bribery charges, court documents showed.