LONDON — Defense company BAE Systems PLC said Friday it would pay fines totaling more than $400 million after reaching settlements with Britain’s anti-fraud agency and the U.S. Justice Department to end decades-long corruption investigations into the company.
The world’s No. 2 defense contractor said that under its agreement with Washington, it would plead guilty to one criminal charge of conspiring to make false statements to the U.S. government over regulatory filings in 2000 and 2002. The agreement was subject to court approval, it said.
The U.S. Justice Department said that since 2000, BAE intentionally failed to put anti-bribery preventative measures in place. The company was also accused of secretly paying hundreds of millions of dollars to agents and advisers, while knowing that the money was likely passed on to foreign governments to favor BAE in the award of defense contracts.
