BAE to pay £30m accounting fine in SFO deal
UK and US agree groundbreaking deal with BAE
BAE Systems will pay £30m and admit to failing to keep reasonably accurate
accounting records in relation to its activities in Tanzania, in a
ground-breaking deal with the
Serious Fraud
Office.
BAE will admit to the charge in the Crown court, and the £30m will comprise a
financial order determined by the judge, with the balance paid as an ex gratia
payment for the benefit of the people of Tanzania.
BAE will also pay $400m (£256m) after pleading guilty to a charge of
conspiring to make false statements to the US government.
“I am very pleased with the global outcome achieved collaboratively with the
DoJ. This is a first and it brings a pragmatic end to a long-running and
wide-ranging investigation,” said SFO director Richard Alderman.
“I would like to thank the Ministry of Defence Police for their support and
contribution. Furthermore, I’d also like to acknowledge the efforts made by BAE
to conclude this matter and I welcome its declared commitment to high ethical
standards”.