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Editors

Harry Cassin
Publisher and Editor

Andy Spalding
Senior Editor

Jessica Tillipman
Senior Editor

Bill Steinman
Senior Editor

Richard L. Cassin
Editor at Large

Elizabeth K. Spahn
Editor Emeritus

Cody Worthington
Contributing Editor

Julie DiMauro
Contributing Editor

Thomas Fox
Contributing Editor

Marc Alain Bohn
Contributing Editor

Bill Waite
Contributing Editor

Shruti J. Shah
Contributing Editor

Russell A. Stamets
Contributing Editor

Richard Bistrong
Contributing Editor

Eric Carlson
Contributing Editor

SFO confirms Airbus bribe probe

The UK Serious Fraud Office said Monday it has opened a criminal investigation into allegations of fraud, bribery, and corruption in the civil aviation business of Airbus Group.

The SFO issued a short statement saying “the allegations relate to irregularities concerning third party consultants.”… Continue Reading

Germany probes Airbus for bribery

Prosecutors in Munich confirmed Wednesday that Airbus is under investigation for bribery connected with border security contracts in Romania and Saudi Arabia.

Several employees of Airbus Defence and Space, formerly EADS, are the targets of the investigation.… Continue Reading

SFO arrests four Airbus employees in Saudi Arabia bribe probe

Airbus Group NV said Wednesday the UK Serious Fraud Office questioned some of its employees as part of an investigation into possible corruption at a subsidiary.

“Airbus Group understands that four former and current employees were recently interviewed — along with [Ministry of Defense] officials — as part of a wide ranging SFO investigation into subsidiary GPT,” an Airbus spokesperson said in a statement emailed to Bloomberg.… Continue Reading

German raid on EADS joint venture

German police have raided the offices of a joint venture between EADS and ThyssenKrupp during an investigation of overseas corruption.

The joint venture — Atlas Elektronik — and Rheinmetall Defence Electronics are suspected of paying bribes in Greece in connection with the sale of submarine equipment, the state prosecutor’ office in Bremen said Saturday.… Continue Reading

New problems for EADS after office raids

German police raided and searched the German offices of EADS Tuesday.

Sources said the raid was connected to an investigation into the defense contractor’s sale of military aircraft to Austria.

In the U.K.,… Continue Reading

Will the DOJ ask BAE to squeal on EADS?

Britain’s BAE Systems and Europe’s EADS are proposing to merge, they said earlier this month, to create a defense giant capable of competing against Boeing and Lockheed Martin.

BAE is one of the biggest military contractors to the U.S.… Continue Reading

The Story Of Graft

One of the most glaring, if unremarked, oddities concerning China nowadays is how perceptions of its leaders diverge depending on the observer. In the eyes of the Chinese public, government officials are venal, incompetent, and interested solely in getting lucrative appointments.… Continue Reading

Report: EADS Execs Knew About Payments

The Financial Times said Tuesday that an internal financial controller alerted senior EADS executives as early as 2007 that alleged bribes might be going to Saudi Arabian officials.

Carola Hoyos, the Times’ defense correspondent, said the financial controller was concerned about payments to Cayman Island bank accounts and gifts to Saudi royal family members and military officials.… Continue Reading

SFO Launches Criminal Investigation Of EADS Subsidiary

The U.K. Serious Fraud Office said this week it is investigating possible bribes in Saudi Arabia by a company owned by European defense contractor EADS.

A former employee of Britain-based GPT Special Project Management Ltd reportedly said the company gave Saudi Arabian officials cars, jewellery, and cash to win a £2 billion communications contract.… Continue Reading

Embraer Hit With SEC Subpoena

Brazilian aircraft maker Embraer said this week it received a subpoena from the U.S. Securities and Exchange Commission relating to possible violations of the Foreign Corrupt Practices Act.

Embraer is the world’s third largest commercial aircraft manufacturer.… Continue Reading

Is EADS BAE All Over Again?

A report this week in the Telegraph said the U.K. Serious Fraud Office is waiting for approval from the attorney general before pursuing a full-scale bribery investigation into EADS, the European aerospace giant. … Continue Reading