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Britain defence, security and aerospace firm BAE Systems Faces Corruption Charges
By Elizabeth Haggar for CEOWORLD Magazine Updated:October 1, 2009
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The Serious Fraud Office (SFO) said on Thursday it would seek consent from Britain’s Attorney General Patricia Scotland to prosecute Europe’s biggest defence contractor BAE Systems over bribery allegations.
BAE Systems (BAES.L) said in a statement it is working to resolve the matters under investigation by the SFO “at the earliest opportunity.” It added that the company “has at all times acted responsibly in its dealings with the SFO, taking into account the interests of its shareholders and employees and the legal advice it has received.”
“If the director of the SFO obtains the consent that he seeks from the attorney general and proceedings are commenced, the company will deal with any issues raised in those proceedings at the appropriate time and, if necessary, in court,” BAE said.
The cases reportedly involve alleged secret commissions on sales of a military radar to Tanzania; alleged bribes behind a Czech deal to lease Anglo-Swedish Gripen warplanes; commissions allegedly paid on a sale of two frigates to Romania; and 100 million pounds ($160 million) in allegedly secret commissions in a weapons deal with South Africa.
The U.S. Justice Department continues to investigate the allegations that BAE Systems funneled money to Saudi Prince Bandar bin Sultan, a former ambassador to the U.S., to help win a $86 billion weapons deal.
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