Revealed: BAE's secret £1m to Pinochet (UK's Largest Arms Firm)

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Revealed: BAE's secret £1m to Pinochet

US banking records show links between arms firm and ex-dictator continued until last year

David Leigh and Rob Evans
Thursday September 15, 2005
The Guardian


Britain's biggest arms firm, BAE Systems, has been identified on US banking records as secretly paying more than £1m to General Augusto Pinochet, the former Chilean dictator. A Guardian investigation has revealed some of the money was listed as being paid through a front company in the British Virgin Islands, which BAE has used to channel commission on arms deals.

Covert payments to Pinochet-linked groups are listed on documents compiled by the Chilean authorities and obtained by the Guardian. They record large payments from BAE as recently as last year.

Asked last night why it had paid the general, who is the target of numerous allegations of murder and torture from the time he seized power in Chile, BAE issued a statement saying: "We at BAE Systems have clear and rigorous policies which govern the conduct of our relationships with third parties. We require all our employees to adhere to these policies and comply with the law."

The company, a prime exhibitor at today's international arms fair in London, has been the target of bribery allegations. It is under investigation by the Serious Fraud Office on suspicion of money laundering and false accounting, after allegations of a £60m Saudi 'slush fund'.

http://www.guardian.co.uk/chile/story/0,13755,1570335,00.html

[acmejack]

1. BAE has a lot of US employees

A bunch here in Austin, they bought Tracor. I'm sure they're in the top ten of armaments manufacturers in the US.

[1932]

2. If the Tories were in power, what would happen to the SFO investigation?

[PATRICK]

3. Relation to Blair and the Carlyle Group?

[DoYouEverWonder]

4. Britain's BAE allegedly made secret payments worth 2 mln dlrs to Pinochet

Sept 15, 2005

LONDON (AFP) - Britain's largest arms company, BAE Systems, was accused by a newspaper of secretly paying more than two million dollars (1.6 million euros) to former Chilean dictator Augusto Pinochet.

An investigation by the Guardian daily revealed that the defence and aerospace giant had transferred funds to Pinochet as recently as June last year using a front firm in the British Virgin Islands.

The newspaper asked BAE why it had given money to the 89-year-old general, who has been accused of murder and torture during his time as Chile's leader.

It quoted the company as saying: "We at BAE Systems have clear and rigorous policies which govern the conduct of our relationships with third parties. We require all our employees to adhere to these policies and comply with the law."

The Guardian, however, noted that BAE had been the target of bribery allegations. It also said Pinochet had been accused by the Chilean media of taking bribes for delivering arms sales.

http://news.yahoo.com/s/afp/20050915/ts_afp/britainchilejustice_050915073704;_ylt=AsVuA0A6auka9h55wiFSn32FOrgF;_ylu=X3oDMTBiMW04NW9mBHNlYwMlJVRPUCUl

[emad]

5. Fahd's way of doshing up the old General? The Riggs Bank saga

clearly ain't over yet.

[emad]

6. BAe statement on bribery, clear & rigorous policies, ethical standards:

SNIP:
The payments were made to Tasker Investments, Cornwall Overseas Corporation and Eastview Finance, firms named in a US Senate report in March as front companies for Pinochet.

A BAE Systems spokesman said: "All BAE Systems' employees are required to act with honesty, integrity and fairness. We will not tolerate bribery or other attempts to improperly influence the decisions of customers or suppliers."

The firm said it has "clear and rigorous policies" about such matters and said it was committed to upholding the "highest ethical standards".

"We comply with the law in all countries where we operate, including laws implementing the OECD Anti-Bribery Convention and the US Foreign Corrupt Practices Act," said the spokesman.

http://www.thisislondon.com/news/articles/PA_NEWA14843721126775922A00?source=PA%20Feed