- A BP Ex-Manager and his co-conspirator, a local Singapore businessman have been found guilty in $4 million Singapore bribery scheme.
- The BP manager had obtained payments on 19 different occasions for the past four years to promote the business of a trading company.
- The two individuals worked on a mutual understanding where the BP manager would use his position at BP to help the trading company and would later share profits.
- The two men are currently out on bail awaiting sentencing in September. For each of the 20 counts of corruption, they can be jailed for up to five years and fined up to $100,000.
- In this case, BP was not accused of any wrongdoing or participation in the schemes.
A recent news published in the Maritime Executive reports that a former manager working at the BP oil company operations in Singapore has been found guilty in a bribery scheme involving nearly $4 million in payments. His co-conspirator a local Singapore businessman has also been found guilty in the bribery scheme.
A case that lasted for two years
The Singapore prosecutors mentioned that the BP manager, Clarence Chang Peng Hong, encouraged the businessman, Koh Seng Lee, to start a fuel training company.
From 2006 to 2010, the BP executive directed business to the company and promoted the trading company within BP. In exchange, he received nearly $4 million in payments.
Reportedly, the businessman made an additional $500,000 payment to a local preschool where the wife of the BP executive was a director. The case has lasted for two long years.
BP Ex-manager found guilty
The Singapore Prosecutors argued that the businessman, Koh, was under the control of Chang and that the business depended on Chang.
Though the defense attorneys for the two men argued that their business dealings and investments were separate from Chang’s position at BP.
The two men were found guilty in the bribery scheme involving nearly $4 million in payments.
Another case of bribery and investigation
In another incident, Bloomberg reports today that three traders and one manager from the BP team in Singapore were placed on leave.
An investigation is ongoing into the disputed oil trading transactions between two Singapore-based companies that involved purported contracts with BP.
According to Bloomberg, BP said that it had never agreed to those transactions.
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Source: Maritime Executive
