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BP to Admit Crimes and Pay $4.5 Billion in Gulf Settlement

November 15, 2012 by legitgov

BP to Admit Crimes and Pay $4.5 Billion in Gulf Settlement 16 Nov 2012 BP, the British oil company, said Thursday it would pay $4.5 billion in fines and other payments to the United States government and plead guilty to 14 criminal charges in connection with the giant oil spill in the Gulf of Mexico two years ago. The payments include a $4 billion fine to be paid over five years, with much of it to go to government environmental agencies, BP said in a statement. As part of the settlement, BP pleaded guilty to 11 felony misconduct or neglect charges related to the deaths of 11 people in the Deepwater Horizon accident in 2010, which unleashed millions of barrels of oil into the gulf. A law enforcement official familiar with the case also said that two BP employees would be charged with manslaughter in the case.

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