London, Feb 6 (DPA) British defence and aerospace giant BAE Systems has reached a deal with investigators in Britain and the US to pay fines totalling 280 million pounds ($400 million) in connection with alleged irregularities over contracts.
In a statement Friday, BAE Systems said a global settlement had been reached with the US Department of Justice and Britain’s Serious Fraud Office (SFO) following months of investigations.
The payment is believed to relate to defence deals with Saudi Arabia, Tanzania, South Africa, Hungary and the Czech Republic.
BAE Systems will pay 250 million pounds in the US after admitting misleading authorities about payments that had a “high probability” of being used to help win contracts, while a record criminal corporate fine of 30 million pounds will be paid in Britain.
BAE said the pleas now reached did not relate to accusations of corruption or bribery but also stressed that it “regretted” shortcomings.
US and British authorities have been investigating the case for many years, but it is believed to be the first time the two countries have coordinated such a corporate corruption “plea bargain”.
The settlement relates to payments made to an unnamed Saudi official, as part of the so-called al-Yamamah contract to supply military equipment worth 40 billion pounds to Saudi Arabia.
There was also an infringement of restrictions on the supply of sensitive US technology in deals to supply aircraft in Hungary and the Czech Republic.
The British charge stems from a contract signed in 1999 to supply a radar system to Tanzania, and relates to payments to a former marketing adviser in the east African country.
Part of the fine will be a charity payment which will go to Tanzania, the statement said.
