Chevron, Transocean, 17 Executives Face Brazil Criminal Charges

Chevron Corp. (CVX), Transocean Ltd. (RIG) and 17 of the companies’ executives were formally accused by Brazilian federal prosecutors of environmental crimes in an oil leak off Rio de Janeiro’s coast.

Prosecutors are asking each company to pay 10 million reais ($5.5 million) and demanding 1 million reais from each executive for damage to the environment.

George Buck, head of Chevron in Brazil, may be sentenced to jail for as many as 31 years, the prosecutor’s office said in an e-mailed statement today.

To contact the editor responsible for this story: Carlos Caminada at ccaminada1@bloomberg.net

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