Defense Contractor Agrees to Pay $400 Million Criminal Fine

Monday, March 08, 2010

United Kingdom-based defense contractor BAE Systems has pled guilty in U.S. federal court to charges of defrauding the government and trying to cover up its illegal activities. The company has agreed to pay $400 million, one of the largest criminal fines ever ordered by the Department of Justice in cases involving overseas business corruption.

 
The criminal investigation involved allegations that BAE paid bribes to foreign officials in exchange for contracts from foreign governments. However, the company did not admit to making illegal payments to gain favor with “marketing advisers.”
 
BAE has been accused of corruption for years, including allegations of maintaining a $40 million slush fund to bribe government officials in Saudi Arabia and other countries.
-Noel Brinkerhoff
 
No Surprises as BAE Pleads Guilty to Defrauding the U.S. (by Christopher M. Matthews, Main Justice)

Comments

Jack 9 years ago
When will they start jailing these low liefs. Fines are just figured into the cost of doing business and does not act as a real deterrent. Long prison terms, in real prisons and with out pardons from the Prezzz are the only thing that will stop corruption at this level period.

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