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U.K.-Based Defense Contractor to Pay $400 Million Fine Over Bribes to Foreign Officials

March 8, 2010 in Securities Regulation & Law Report · Leave a Comment 

U.K.-based defense contractor BAE Systems plc March 1 pleaded guilty to charges it bribed foreign officials to gain or retain business in violation of the Foreign Corrupt Practices Act and arms control laws, agreeing to pay a staggering $400 million criminal penalty ( United States v. BAE Systems plc, D. D.C., cr. no. __, 3/1/10).

Prosecutors said the…

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