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.