Defendant Name:
GlobalSantaFe Corp.
Defendant Type:
Public Company
Document Reference:
court_doc3_10-cv-01890
Document Details
Legal Case Name
SEC v. GlobalSantaFe Corp. (c/k/a Transocean Worldwide Inc.)
Document Name
Final Judgment as to Defendant GlobalSantaFe Corp.
Document Date
05-Nov-2010
Document Format
Civil Proceeding
Case Number
10-cv-01890
Federal District Court
District of Columbia, District of Columbia
Federal District Judge
Rosemary M. Collyer
Allegation Type
Foreign Corrupt Practices Act
Document Summary
On November 4, 2010, Federal District Judge Rosemary M. Collyer entered final judgment against GlobalSantaFe Corp. pursuant to the consent of GlobalSantaFe Corp.
Disgorgement & Penalty Information
Monetary Penalties:
Disgorgement
Individual:
$2,694,405.00
Shared:
Civil Penalty
Individual:
$2,100,000.00
Shared:
Pre-Judgment Interest
Individual:
$1,063,760.00
Shared:
Total Penalty
Individual:
$5,858,165.00
Shared:
Related Documents:
SEC Charges GlobalSantaFe Corp. with Bribery and Other FCPA Violations
On November 4, 2010, the SEC issued a litigation release announcing that it filed a bribery and other Foreign Corrupt Practices Acts violations against GlobalSantFe Corp. Additionally, the company: "consented to the entry of a court order permanently enjoining it from violating the anti-bribery and record keeping and internal controls provisions..." The SEC also announced that: "GSF also consented to the entry of a court order requiring GSF to pay disgorgement of $2,694,405, prejudgment interest of $1,063,760, and a civil penalty of $2.1 million. The proposed settlement is subject to court approval."
Complaint
On November 4, 2010, the SEC filed a complaint against GlobalSantaFe Corp. According to the SEC: "From approximately January 2002 through July 2007, GlobalSantaFe Corp. ('GSF') violated the anti-bribery, books and records, and internal controls provisions of the Foreign Corrupt Practices Act (the 'FCPA') when GSF made illegal payments through customs brokers to officials of the Nigerian Customs Service ('NCS') in order to obtain preferential treatment during the customs process for the purpose of assisting GSF in retaining business in Nigeria."
SEC Charges Seven Oil Services and Freight Forwarding Companies for Widespread Bribery of Customs Officials
On November 4, 2010, the SEC announced that it had reached a settlement with GlobalSantaFe Corp. ("GSF") for the company's violations of the Foreign Corrupt Practices Act. GSF, a provider of offshore drilling services, made illegal payments through its customs brokers from approximately 2002 to 2007 to officials of the Nigerian Customs Service to secure documentation showing that its rigs had left Nigerian waters. The rigs had in fact never moved. GSF also made other payments to government officials in Gabon, Angola, and Equatorial Guinea. As part of the settlement, GSF, without admitting or denying the SEC's allegations, agreed to an injunction and will pay disgorgement of $3,758,165 and a penalty of $2.1 million.
