BAE Systems is to pay a fine of $400m (£250m) after pleading guilty to a charge of conspiring to make false statements to the US government.
…Part of the fine will be a charity payment which will go to Tanzania. BAE has also reached agreement with the UK Serious Fraud Office (SFO) to plead guilty to breach of duty to keep accounting records. The SFO said the settlement brought an end to its probe into BAE. ‘Satisfied’The last of the offences was committed in 2002, and BAE says it has since reformed the way it conducts business. “We’re satisfied with that global settlement,” said chairman Dick Olver. “It allows us to draw a very heavy line under the legacy, the historical issues. We’re obviously pleased to see uncertainty removed for our shareholders.” Transparency International UK, which campaigns against corporate and government corruption welcomed the announcement. “It’s important for companies to receive large fines if they have engaged in unethical behaviour,” said executive director Chandrashekhar Krishnan….
Continued here:
BAE Systems handed £280m criminal fines in UK and US
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