BP to Plead Guilty of Criminal Misconduct

[phantom power]

Well, I think we’ve figured out how an elite corporation can receive criminal charges in 21st-century America. All you have to do is spill 205.8 million gallons of oil into a US waterway. Then, you’re just going to have to cop a criminal misconduct plea, as long as the Justice Department gives you immunity from future suits and wraps up all your negligence in one case.

BP Plc is expected to pay a record U.S. criminal penalty and plead guilty to criminal misconduct in the 2010 Deepwater Horizon disaster through a plea deal reached with the Department of Justice that may be announced as soon as Thursday, according to sources familiar with discussions.

Three sources, who spoke to Reuters on condition of anonymity, said BP would plead guilty in exchange for a waiver of future prosecution on the charges.

BP confirmed it was in “advanced discussions” with the Department of Justice (DoJ) and the Securities & Exchange Commission (SEC).

The talks were about “proposed resolutions of all U.S. federal government criminal and SEC claims against BP in connection with the Deepwater Horizon incident,” it said in a statement on Thursday, but added that no final agreements had been reached.

Now, the government could still pursue federal civil claims, but clearly this would take up the bulk of BP’s remaining liability. States and private individuals would still have recourse to sue BP, but it has dealt with a large uncapped class action suit that will pay out an estimated $7.8 billion to over 100,000 individuals and businesses. The fact that BP would agree to plead criminal misconduct here could make a difference in new cases, but not the class action.

http://news.firedoglake.com/2012/11/15/bp-justice-department-close-to-settlement-in-deepwater-horizon-case-bp-to-plead-guilty-of-criminal-misconduct/