Switzerland widens probe into BAE Systems (money laundering/Bandar Bush): government

[UpInArms]

Source: AFP

GENEVA (AFP) - Switzerland has widened its investigations into British defence company BAE Systems over alleged money laundering, a Swiss government spokeswoman said Thursday.

"In the case of BAE Systems, the public ministry of the confederation has opened three criminal investigations over money laundering," said Jeannette Balmer in a statement received by AFP.

<snip>

BAE Systems has also been investigated by Britain's Serious Fraud Office for its operations in the Czech Republic, Romania, Chile, Qatar, South Africa and Tanzania.

In 2006, the British office dropped a probe into the company that could have implicated top Saudi officials in an arms contract of 43 billion pounds (53.5 billion euros) between Britain and Saudi Arabia.

Read more: http://news.yahoo.com/s/afp/20080710/bs_afp/switzerlandbritaincorruptioncompanyweaponsbae

[burythehatchet]

1. would love for the Swiss to uncover what Downing St. has tried so hard to cover up

[karynnj]

2. It would be interesting if they did learn what happened

The Justice Department here didn't try to hard. More disturbingly, the Times of London (Murdock) attempted to smear John Kerry, who wrote a letter on the BAE allegations to the Justice department - implying that he did it to help a Massachusetts based competitor.


http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=273&topic_id=135065&mesg_id=135065

[emad]

3. BAE Bribery Scandal Shows Saudi Oil Won't Hurt Shareholders

By Steve Rothwell

July 11 (Bloomberg) -- Saudi Arabian oil and sales of armored vehicles to the U.S. military may protect BAE Systems Plc, Europe's biggest defense contractor, from bribery allegations linked to a 43 billion-pound ($85 billion) weapons deal.

London-based BAE, maker of the Bradley Fighting Vehicle, used in Iraq and Afghanistan, has slumped 13 percent this year because of concern it may face sanctions from a U.S. Justice Department probe into a 1985 deal to supply Tornado attack jets and Hawk trainers to Saudi Arabia. If indicted, BAE may face penalties ranging from a fine to suspension from U.S. government programs.

The Saudis, owners of the world's largest oil reserve, have used their wealth as prices have climbed to record highs to cultivate influence with Western countries and become the biggest importer of weapons.

``The essential relationship between the West and Saudis is that the West provides know-how and a security umbrella, and, in return, the Saudis provide the petroleum,'' said Daniel Pipes, director of the Middle East Forum, a Philadelphia-based research group. ``The Saudis have managed repeatedly to assert their dominance in this relationship.''

http://www.bloomberg.com/apps/news?pid=20601087&sid=aoqqempIl7ZM&refer=home

[Serial Mom]

4. BAE also owns/took over many US Defense Contractors

BAE SYSTEMS – ASD
Fridley, MN
Aberdeen, SD
Louisville, KY

BAE SYSTEMS - NES
Wayne, NJ
Greenlawn, NY

BAE SYSTEMS Controls
Irving, TX

BAE IEWS
Pomona, CA
Lexington, MA
Hudson, NH
Merrimack, NH
Nashua, NH
Yonkers, NY
Lansdale, PA
Ft. Worth, TX
Manassas, VA

BAE SYSTEMS Integrated Defense
Mojave, CA
Austin, TX

[AntiFascist]

5. K&R, sounds like a big development...

I hope they uncover the huge slush funds.