Foreign Corrupt Practices Act: Investigations Dataset

Investigation Name: Investigation into Tsakos Energy Navigation's Activities re: Shipbrokers in Brazil

Trend: Petrobras

Type of investigation: Internal, SEC, DOJ

Other Agencies Investigating/Assisting with SEC/DOJ Investigation: Unknown

Whistleblower: Unknown

Summary

Tsakos Energy Navigation Ltd. (Tsakos) is a Greek provider of international seaborne crude oil and petroleum product transportation services. Incorporated in Bermuda, its common shares are traded on the NYSE under the symbol "TNP".

In its 20-F filed on April 14, 2020, Tsakos disclosed that Brazilian authorities had charged certain shipbrokers with various offenses, including bribery, in connection with charters entered into between Petrobras and various shipowners, including Tsakos.

In its 20-F filed on April 16, 2021, Tsakos disclosed that it had initiated an internal investigation in 2020 into the circumstances surrounding the charters and whether the actions taken by these shipbrokers constituted non-compliance with the FCPA. This internal investigation is being conducted in parallel with DOJ and SEC investigations into the possible misconduct. The government investigations also appear to have begun in 2020. Tsakos said it was cooperating with the agencies.

In its 6-K filed on October 8, 2024, Tsakos disclosed that the SEC informed the company in June 2024 that it had closed its investigation.

The DOJ investigation appears to be ongoing.

Protected Content

Please Log In or Sign Up for a free account to access restricted features of the Clearinghouse website, including the Advanced Search form and the full case pages.

When you sign up, you will have the option to save your search queries performed on the Advanced Search form.

| Investigations Dataset

Investigations Dataset

Information & Summary

Investigation into Tsakos Energy Navigation's Activities re: Shipbrokers in Brazil

Information & Summary

Protected Content