Washington DC Adult Entertainment: BAE to Pay US $400 Million for False Statements
Written on February 6, 2010 – 1:01 am | by larrylibido
… They’ve put the bribery allegations behind them in both the UK and the U.S., wrapping this up without the uncertainty, expense and reputational damage of a trial and without admissions that could lead to debarment, she said. “I expect they’re pleased. This seems a very ‘business-friendly’ end to some very egregious allegations.”
Allegations of corruption have swirled around BAE for years. In 2003, The Guardian reported that company’s chairman, Sir Richard Evans, may have been complicit in operating a $40 million slush fund used to bribe government officials in Saudi Arabia, among other places. The slush fund turned out to be considerably larger.
Over 15 years the defense firm allegedly provided Saudi royals with cash, cars, prostitutes and houses among other things in exchange for lucrative defense contracts. The most infamous of these dealings was the so-called al-Yamamah deal that Margret Thatcher negotiated with Prince Bandar, the son of the Saudi defense minister, in the 1980s.
See the full article from “Main Justice”