Accounting Failure Costs BAE Systems Over Tanzanian Radar Deal

A British judge has fined BAE Systems US$776,000 for failing to keep proper accounts during a competition for a Tanzanian military radar contract, reports BBC News.

The company failed to keep appropriate payment records of US$12 million to a Tanzanian businessman ahead of winning the US$43 million radar deal, said the court.

BAE Systems had already made a settlement with the British Serious Fraud Office.

Accordingly, BAE will deduct the fine from the US$47 million it had...