OSLO, Norway (AP) — A Norwegian prosecutor has charged Houston-based offshore drilling company Transocean with evading taxes worth $1.8 billion.
The charges announced Wednesday against Transocean Inc. and Transocean Offshore Deepwater Drilling Inc. are related to the sale of 12 oil rigs 10 years ago by their Norwegian subsidiary Transocean ASA.
The prosecutor says the companies operate from Houston but are registered in the Cayman Islands and Delaware.
Two Norwegian tax advisers from Ernst & Young who were working with the companies in Norway have also been indicted.
The auditing firm says it's certain that its officials have not done anything wrong. Transocean's lawyer Erling Lyngtveit also said the company rejects the charges.
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