BP’s Criminal Fines

The US Department of Justice announced yesterday that it had reached a landmark settlement with BP Oil for its massive oil spill 2 years ago.

BP has agreed to pay $4.9 billion in criminal fines and plead guilty to criminal charges of manslaughter resulting from the deaths of 11 employees on the drill rig. A vice president of BP has been indicted for lying to Congress when he allegedly provided false information about the amount of oil spilled to the government. He told Congress the amount spilled was about 5000 barrels a day when he had knowledge that it was almost 10 times that amount, according to the indictment.

Two drill rig supervisors (the most senior persons on the platform when the incident occurred) were also indicted for manslaughter. The government alleged in the indictment that they ignored repeated danger signs that the rig was about to blow up and failed to consult with company experts prior to the incident.

The maximum amount of criminal fine under the Clean Water Act could be as high as $20 billions based on findings of criminal negligence.

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