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

New York Times: BP, the British oil company, said on Thursday that it had agreed to pay $4.5 billion in fines and other penalties and to plead guilty to 14 criminal charges related to the rig explosion two years ago that killed 11 people and caused a giant oil spill in the Gulf of Mexico. In a rare instance of seeking to hold individuals accountable for company misdeeds, the Justice Department also filed criminal charges against three BP employees in connection with the accident. "This is unprecedented, both with...

URL: http://www.nytimes.com/2012/11/16/business/global/16iht-bp16.html