Airbus SE paid $4 billion (€3.6 billion) to settle global bribery and trade charges with French, UK, and U.S. authorities Friday after an eight-year investigation triggered by a British whistleblower.… Continue Reading
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
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
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 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
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
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
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
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