UK Court Fines BAE In Tanzania Payments Probe

Law360, New York (December 21, 2010, 8:21 PM EST) -- A British court has fined BAE Systems PLC £500,000 ($750,000), concluding a six-year investigation into allegedly suspicious payments the U.K. defense contractor made to a businessman in a bid to win a contract to build a military-grade radar system for Tanzania.

BAE will pay an additional £25.5 million in the form of a charitable contribution to the country of Tanzania, according to the terms of a plea bargain with the U.K. Serious Fraud Office that was finalized in Southwark Crown Court in London on Tuesday.

The deal...
To view the full article, register now.