https://sputnikglobe.com/20241017/raytheon-to-pay-nearly-1bln-over-defective-pricing-foreign-bribery---us-justice-department-1120580317.html
Raytheon to Pay Nearly $1Bln Over Defective Pricing, Foreign Bribery - US Justice Department
Raytheon to Pay Nearly $1Bln Over Defective Pricing, Foreign Bribery - US Justice Department
Sputnik International
US defense contractor Raytheon will pay more than $950 million in connection with defective pricing, foreign bribery, and export control schemes, the US Justice Department said on Wednesday.
2024-10-17T04:29+0000
2024-10-17T04:29+0000
2024-10-17T04:29+0000
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DOJ added that the company defrauded the US government and engaged in criminal schemes. The investigations are related to a major government fraud scheme involving defective pricing on certain government contracts, as well as violations of the Foreign Corrupt Practices Act (FCPA), the Arms Export Control Act (AECA) and the International Traffic in Arms Regulations (ITAR), it added.
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Raytheon to Pay Nearly $1Bln Over Defective Pricing, Foreign Bribery - US Justice Department
WASHINGTON (Sputnik) – US defense contractor Raytheon will pay more than $950 million in connection with defective pricing, foreign bribery, and export control schemes, the US Justice Department said on Wednesday.
DOJ added that the company defrauded the US government and engaged in criminal schemes.
"Raytheon Company (Raytheon) — a subsidiary of Arlington, Virginia-based defense contractor RTX (formerly known as Raytheon Technologies Corporation) — will pay over $950 million to resolve the Justice Department’s investigations," the statement said.
The investigations are related to a major government fraud scheme involving defective pricing on certain government contracts, as well as violations of the Foreign Corrupt Practices Act (FCPA), the Arms Export Control Act (AECA) and the International Traffic in Arms Regulations (ITAR), it added.
"Raytheon engaged in criminal schemes to defraud the U.S. government in connection with contracts for critical military systems and to win business through bribery in Qatar," Deputy Assistant Attorney General Kevin Driscoll of the Justice Department’s Criminal Division was quoted in the statement.
