BAE To Pay $448 Million To Settle Corruption Claims

February 08 2010

United Kingdom

British defense firm BAE Systems has agreed to pay penalties in the U.S. and U.K. to settle long-running corruption allegations, reports the Guardian (U.K.).

The company is pleading guilty and paying US$400 million in the U.S. and 30 million pounds (US$48 million) in Britain.

In the U.S. case, BAE Systems will plead guilty to offenses of false accounting to settle bribery allegations made over the enormous al-Yamamah arms deals with Saudi Arabia stretching back more than 20...

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