BusinessCompany NewsICAEW fellow questioned by US over BAE

ICAEW fellow questioned by US over BAE

Chief executive of BAE Mike Turner, who is also chairman of BAA and deputy chairman of Barclays Bank, was also detained by US officials alongside Sir Nigel in Houston

ICAEW fellow and non-executive director of BAE Systems Sir Nigel Rudd was
detained by the US Department of Justice for in relation to investigations into
bribery allegations against British arms manufacturer BAE Systems.

Chief executive of BAE Mike Turner, who is also chairman of BAA and deputy
chairman of Barclays Bank, was also detained by US officials alongside Sir Nigel
in Houston.

The two were on their way to a BAE facility in Seeley, Texas, when they were
detained by authorities, issued with subpoenas and asked to return to the US for
formal interviews at a future date.

The US is believed to be looking into whether BAE paid bribes to high-ranking
Saudi officials – which include Prince Bandar, the former US Saudi ambassador –
as part of the al-Yamamah arms agreement which earned BAE £43bn since 1985 when
the sales began.

However Sir Nigel’s detention may turn out to be a mistake since he only
joined the board in September 2006, after the alleged bribery took place.

The Home Office confirmed that the US Department of Justice had requested
information to assist US investigations, but refused to comment further, the
Times
reported.

Further reading:

Auditors wrestle with making ethics add up

Former head slams SFO direction

NAO crisis reopens Saudi arms questions

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