BAE To Pay $450M To Settle US, UK Corruption Charges

Law360, New York (February 5, 2010, 5:32 PM EST) -- U.K.-based BAE Systems PLC, the largest military contractor in Europe, has agreed to plead guilty to criminal charges and pay a total of $447 million to settle bribery and fraud cases in the U.S. and the U.K.

The U.S. Department of Justice filed criminal information in the case Friday in the U.S. District Court for the District of Columbia, while the U.K.'s Serious Fraud Office initiated a case in the country's Crown Court.

The company said in a statement Friday that it would pay $400 million...
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