Defendant Name: Vantage Drilling International

Defendant Type: Subsidiary of Public Company

Document Reference: 34-84617-s

Document Details

Legal Case Name In the Matter of Vantage Drilling International
Document Name Vantage Drilling International Agrees to Settle FCPA Charges
Document Date 19-Nov-2018
Document Format Administrative Proceeding
File Number 3-18899
Allegation Type Foreign Corrupt Practices Act
Document Summary On November 19, 2018, the SEC issued a press release regarding charges against Vantage Drilling International, stating: "According to the SEC's order, VDC lacked sufficient internal accounting controls in relation to the heightened risk of conducting business in the oil and gas industry in Brazil. Consequently, VDC increased the risk that it financed the bribes by making substantial payments to the director in 2008 and 2012. Both VDC and the director financially benefited from the lucrative contract with Petrobras that was secured through the director's and agent's bribery."

Disgorgement & Penalty Information

Resolutions
None Specified
Monetary Penalties:

Disgorgement

Individual:     $5,000,000.00 Shared:    

Related Documents:

34-84617 19-Nov-2018 Administrative Proceeding
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order
On November 19, 2018, the SEC issued an order against Vantage Drilling International, stating: "These proceedings arise from violations of the internal accounting control provisions of the Foreign Corrupt Practices Act of 1977 (the "FCPA"), 15 U.S.C. § 78m(b)(2)(B), by Vantage Drilling Company ("VDC"). Specifically, VDC failed to devise a system of internal accounting controls with regard to VDC's transactions with VDC's former outside director, largest shareholder, and only supplier of drilling assets ("Director A"), and failed to properly implement internal accounting controls related to its use of third-party marketing agents."