EIG’s Suit to Recover $220 Million From Brazilian Fraud Tossed

EIG Energy Fund XIV LP and its associated funds didn’t show that Keppel Offshore & Marine Ltd. aided and abetted a fraud scheme against it by two Brazilian oil entities in which EIG invested and lost $220 million, a federal court said.

In fact, EIG didn’t show that Keppel was actually involved in the fraud against it, Judge Paul G. Gardephe said Wednesday for the US District Court for the Southern District of New York. Keppel demonstrated that there was “no material issue of fact as to its actual knowledge of or substantial assistance in the investment fraud perpetrated ...