A report at the BBC claims the fine against BP PLC (NYSE: BP) in the settlement of criminal charges related to the explosion of the Deepwater Horizon in 2010 will be in the range of $3 billion to $5 billion.
The BBC also reports that up to four BP staff members will be charged and arrested. And the Associated Press reports that two BP employees will face charges of manslaughter related to the explosion.
The AP also says that the company will plead guilty to obstruction charges for lying to Congress about the extent of the spill.
BP is expected to make a final payment of $860 million into its $20 billion Gulf of Mexico compensation fund by the end of this year.
BP has booked more than $38 billion to pay liability claims related to the disaster that killed 11 workers and spilled more than 5 million barrels of oil into the Gulf of Mexico.
Here’s our earlier report on this story.
The Modern Investment App For a Richer Tomorrow (Sponsored)
Robinhood set out to democratize investing to individuals, and it’s not slowing down. The app makes it possible to buy and sell stocks, mutual funds, trade options, and even cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH).
With FDIC insurance ,an award winning design, and benefits like IRAs and more, Robinhood could be your path to a richer tomorrow.
Sign up today — click here to start your journey.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.