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Who Paid the Largest Criminal fine in History and Why?

Who Paid The Largest Criminal Fine In History And Why ?

The largest criminal fine in history was paid by BP, a multinational oil and gas company, in the wake of the Deepwater Horizon oil spill in the Gulf of Mexico in 2010. The fine, which was imposed by the US Department of Justice, was $4.5 billion. The fine was part of a settlement in which BP agreed to plead guilty to 14 criminal charges, including 11 counts of manslaughter for the deaths of 11 people in the oil rig explosion that caused the spill. The settlement also included $525 million in fines for violating the Clean Water Act and $1.26 billion in fines for violating the Migratory Bird Treaty Act.

Also Read: –Who Paid The Largest Criminal Fine In History And Why ?

The Deepwater Horizon oil spill was one of the largest and most damaging environmental disasters in history. It occurred when an explosion on the Deepwater Horizon oil rig caused a massive oil spill in the Gulf of Mexico. The spill released over 3 million barrels of oil into the ocean, causing significant damage to marine and wildlife habitats, as well as to the economy and environment of the region. The criminal fines were imposed on BP as a result of the company’s role in the disaster and its failure to follow safety protocols and regulations.

Here are some examples of large fines that have been imposed on companies, including Pfizer:

  1. Pfizer: In 2009, Pfizer, a multinational pharmaceutical company, agreed to pay a $2.3 billion fine to settle criminal and civil charges related to the illegal promotion of certain prescription drugs. The company was accused of marketing drugs for uses that were not approved by the US Food and Drug Administration (FDA), as well as paying kickbacks to healthcare providers to prescribe its drugs.
  2. BP: In 2010, BP, a multinational oil and gas company, agreed to pay a $4.5 billion fine in the wake of the Deepwater Horizon oil spill in the Gulf of Mexico. The fine was part of a settlement in which BP agreed to plead guilty to 14 criminal charges, including 11 counts of manslaughter for the deaths of 11 people in the oil rig explosion that caused the spill. The settlement also included $525 million in fines for violating the Clean Water Act and $1.26 billion in fines for violating the Migratory Bird Treaty Act.
  3. Goldman Sachs: In 2010, Goldman Sachs, a multinational investment bank, agreed to pay a $550 million fine to settle charges that it had misled investors in the sale of mortgage-backed securities leading up to the financial crisis.
  4. JPMorgan Chase: In 2013, JPMorgan Chase, a multinational investment bank, agreed to pay a $13 billion fine to settle charges related to the sale of mortgage-backed securities leading up to the financial crisis.
  5. Deutsche Bank: In 2017, Deutsche Bank, a German multinational investment bank, agreed to pay a $7.2 billion fine to settle charges related to the sale

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