BREAKING: BP accepts criminal liability in gulf oil spill, will pay $4-billion fine

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UPDATE:

Via an L.A. Times email alert, this isn't enough to compensate for the loss of human life, sea life, and environmental damage:

Energy giant BP has accepted criminal liability and will pay at least $4 billion in connection with the 2010 oil spill in the Gulf of Mexico, one of the nation's worst environmental disasters.

In an announcement today from its London headquarters, BP confirmed an agreement with the U.S. Justice Department to resolve all federal criminal charges and all claims by the Securities and Exchange Commission against the company stemming from the events that began with the April 2010 explosion of the Deepwater Horizon oil rig.

As part of the agreement, BP said it has agreed to plead guilty to 11 felony counts of misconduct or neglect in connection with the 11 deaths caused by the rig's explosion. It also agreed to plead guilty to other charges, including one felony count of obstruction of Congress. The agreement is subject to U.S. federal court approval.

For the latest information go to www.latimes.com.

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  • David G

    $4 Billion is great, but where does that money go?  Who gets it?  How is it filtered to the people who were hurt or disadvantaged and suffered because of BP's negligence? DG

  • http://twitter.com/Anomaly100 Anomaly One Hundred

    If  'Corporations are people, my friend'  then shouldn't they be behind bars with Bernie Madoff, et al?

  • Sally

    So who gets this money? The victims? Or will the GOP somehow manage to sue ti for 'tax breaks?'