Vantage Drilling Company Common Shares (VTGDF)

[seven-up]

Former Petrobras exec sentenced over Vantage Drilling contract

SAO PAULO, Feb 1 (Reuters) - A Brazilian judge sentenced the former head of state-run oil company Petrobras’ international division to 12 years and two months in jail for corruption and money laundering on Monday, part of the country’s largest-ever graft investigation.

Federal judge Sergio Moro said Jorge Zelada had unduly awarded U.S. company Vantage Drilling a 2009 contract with Petrobras for the drillship Titanium Explorer in exchange for bribes stashed in undeclared accounts in Monaco and Switzerland.

So there is no way once this gets to the Brazilian courts will VDC ever receive one penny.