U.S. justice dept launches corruption probe of BAE

[Eugene]

Source: Reuters

U.S. justice dept launches corruption probe of BAE
Tue Jun 26, 2007 2:47AM EDT

LONDON (Reuters) - The U.S. Department of Justice has
launched an investigation of Britain's BAE Systems Plc (BA.L)
over the defense firm's compliance with anti-corruption laws,
including its dealings with Saudi Arabia.

Britain's Serious Fraud Office dropped an inquiry into the
firm's dealings with Saudi Arabia in December last year after
Prime Minister Tony Blair said it would harm national security
and relations with the Gulf kingdom.

"BAE Systems has been notified by the U.S. Department of
Justice that it has commenced a formal investigation relating
to the company's compliance with anti-corruption laws
including the company's business concerning the Kingdom of
Saudi Arabia," the company said in a brief statement on
Tuesday.

Europe's biggest military contractor, BAE has denied making
wrongful payments in its dealings with Saudi Arabia, which
include Britain's biggest arms export deal, known as al-
Yamamah, that dates back to the 1980s and was worth an
estimated 43 billion pounds ($86 billion).

-snip-

Read more: http://www.reuters.com/article/businessNews/idUSWLA064220070626

[Judi Lynn]

1. Kick!

:kick: :kick: :kick:

[Judi Lynn]

2. Kick.

:kick:

[muriel_volestrangler]

3. U.S. justice dept launches corruption probe of BAE

Source: Reuters

LONDON (Reuters) - The U.S. Department of Justice has launched an investigation of Britain's BAE Systems Plc (BA.L: Quote, Profile, Research) over the defense firm's compliance with anti-corruption laws, including its dealings with Saudi Arabia.

Britain's Serious Fraud Office dropped an inquiry into the firm's dealings with Saudi Arabia in December last year after Prime Minister Tony Blair said it would harm national security and relations with the Gulf kingdom.

"BAE Systems has been notified by the U.S. Department of Justice that it has commenced a formal investigation relating to the company's compliance with anti-corruption laws including the company's business concerning the Kingdom of Saudi Arabia," the company said in a brief statement on Tuesday.

Europe's biggest military contractor, BAE has denied making wrongful payments in its dealings with Saudi Arabia, which include Britain's biggest arms export deal, known as al-Yamamah, that dates back to the 1980s and was worth an estimated 43 billion pounds ($86 billion).

Read more: http://www.reuters.com/article/ousiv/idUSWLA064220070626

[acmavm]

4. The US Justice Dept. is investigating another country for corruption????

Excuse me, but I hate these little trips into Bizarro Land that this administration keeps send us on.

I mean, yeah, they pulled some nasty shennanigans with our favorite Saudi, Bandar Bush, on the receiving end of the goodies. But for this crooked bunch to go hurling stones at anyone is hilarious. Especially considering bush**s family connection with the Riggs Bank and the whole affair.

[muriel_volestrangler]

5. Yes, it really is a country being investigated

Ministers may also be left red-faced as a result of the US probe, say commentators. They point out that the al-Yamamah deal was essentially an agreement reached between the Saudi government and a previous British administration, with BAE as the main contractor.

As such the Ministry of Defence will be responsible for determining whether details are revealed about the agreement if it is part of the US investigation, analysts say.

http://www.inthenews.co.uk/money/business/autocodes/countries/saudi-arabia/bae-faces-us-probe-$1103507.htm

[JohnyCanuck]

6. The alleged bribe money was funneled to Bandar via the Riggs Bank in Washington.

If you like playing "connect the dots" puzzles google the following: "Riggs Bank Bush".

[sabra]

7. k & r

[mopinko]

8. i'm SURE they will investigate this

thoroughly, carefully, deeply. they will leave no stone unturned!


:sarcasm: