Money talks and the Keppel O and M corruption probe has concluded with the payment of a record S$567 million dollar fine. Bloomberg
About a quarter of the fine will be paid to the Singapore government and “These payments were part of the total criminal fine“. The CNA report was referring to US$53 million fine which will be paid within 90 days and a further US$53 million within 3 years by Keppel O and M. CNA
So, the PAP government stands to gain from the criminal acts of senior GLC executives?
The 5 senior management executives of Keppel involved:
1. Choo Chiau Beng, former Keppel Corp CEO and also former Keppel O and M CEO
2. Chow Yew Yuen, former Keppel Offshore & Marine CEO
3. Tay Kim Hock, former CEO of Keppel Fels Brasil
4. Kwok Kai Choong, current CEO at Keppel Fels Brasil
5. Tong Chong Heong, former senior executive at Keppel Corp
Additional info @ The Independent
According to court testimony by Mr Skornicki, Keppel’s agent, “he was given enough autonomy to sign contracts with Petrobras on behalf of Keppel“. He also used “the same accounts where Keppel paid him his formal fee to then bribe officials“.
Keppel senior management had full knowledge and condoned his corrupt acts.