Ex-Raytheon CEO Poised To Pay SEC

Law360, New York (March 28, 2006, 12:00 AM EST) -- To resolve allegations of accounting impropriety, the former chief executive of defense and aerospace company Raytheon Corporation intends to pay a civil fine and fork over a portion of his $1.75 million bonus, a U.S. Securities and Exchange Commission filing revealed this week.

Daniel P. Burnham, who served as chief executive of Raytheon from 1998 to 2003, will submit a settlement offer in connection with the SEC’s long-standing investigation into dubious accounting practices at the company’s Kansas-based civilian aircraft unit.

News of the tentative deal was...
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