Armor Holdings To Pay $16M In Foreign Bribery Case

Law360, New York (July 13, 2011, 7:32 PM EDT) -- BAE Systems Inc. subsidiary Armor Holdings Inc. agreed Wednesday to pay $16 million to resolve criminal and civil allegations in Washington federal court that the company used bribes to win contracts to supply body armor for United Nations peacekeeping missions.

Armor admitted that from 2001 through 2006, employees at a subsidiary paid off a U.N. procurement official through a third-party intermediary. The company also covered up the payments by misreporting them in its books and records, according to Armor's nonprosecution agreement with the U.S. Department of...
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