Basic Search  |  Summaries  |  Advanced SearchPenalty: £30,000,000
Year: 2010
Date: 5 February, 2010
Offence Group: competition-related offences
Offence Type: bribery
Violation Description: The SFO reached an agreement with BAE Systems that the company would plead guilty in the Crown Court to an offence under section 221 of the Companies Act 1985 of failing to keep reasonably accurate accounting records in relation to its activities in Tanzania. The company agreed to pay £30 million comprising a financial order to be determined by a Crown Court judge with the balance paid as an ex gratia payment for the benefit of the people of Tanzania.
Action Type: agency action
Agency: Serious Fraud Office
HQ Country of Parent: United Kingdom
Ownership Structure of Parent: publicly traded
Major Industry of Parent: aerospace and military contracting
Specific Industry of Parent: aerospace & military contracting
Source of Data: (click here)