BP receives biggest criminal fine in U.S. historyNovember 16, 2012 - 08:54 AMT PanARMENIAN.Net - BP has received the biggest criminal fine in U.S. history as part of a $4.5bn (£2.8bn) settlement related to the fatal 2010 Deepwater Horizon disaster, according to BBC News. Two BP workers have been indicted on manslaughter charges and an ex-manager charged with misleading Congress. The Department of Justice (DoJ) said BP must hand over $4bn. The sum includes a $1.26bn fine as well as payments to wildlife and science organizations. As part of the agreement, BP will also plead guilty to 14 criminal charges. The company apologized for its role and said it regretted the loss of life. BP will pay an additional $525m to the Securities and Exchange Commission over a period of three years, the firm said. The resolution with the DoJ includes a record criminal fine of $1.26bn, as well as $2.4bn to be paid to the National Fish and Wildlife Foundation and $350m to be paid to the National Academy of Sciences, over a period of five years. DoJ Attorney General Eric Holder said its resolution "stands as a testament to the hard work of countless investigators, attorneys, support staff members, and other personnel". As a result of the settlements, the company said that it was setting aside an additional $3.85bn on top of the $38.1bn it has been raising to cover its liabilities from the incident. The UK-based oil giant has been selling assets to raise the funds. BP added that the resolution allowed the company to vigorously defend itself against the remaining civil claims and to contest allegations of gross negligence in those cases. The settlement is bigger than the largest previous corporate criminal penalty assessed by the Department of Justice, the $1.2bn fine imposed on drug maker Pfizer in 2009. Top stories Azerbaijani President Ilham Aliyev arrived in Moscow on April 22 to hold talks with Russian counterpart Vladimir Putin. Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". Partner news | Putin congratulates Pashinyan’s birthday Russian President Vladimir Putin congratulated Armenian Prime Minister Nikol Pashinyan on his birthday on June 1. Opposition motorcade en route to Gyumri for large rally A motorcade of protesters headed by Archbishop Bagrat Galstanyan is heading to the city of Gyumri. Ruling MPs, Foreign Minister talk Armenia-Azerbaijan processes MOs from the ruling Civil Contract party met with the Foreign Minister Ararat Mirzoyan in the Armenian parliament. Russia: Armenia’s frozen membership weakens CSTO position in Caucasus A Russian envoy said any step that could alienate the CSTO member states from each other is “deeply wrong”. |