BAE Systems to pay $400M fine

Full Story at CNN.com

Washington (CNN) — British defense contractor BAE Systems has pleaded guilty in Washington to conspiracy to defraud the U.S. government and was ordered to pay a $400 million criminal fine, authorities announced.

A top Justice Department official said the fine is one of the largest criminal fines ever levied in the United States against a company for business-related violations.

BAE Systems admitted Monday to knowingly making false statements to U.S. investigators to hide its failure to ensure compliance with the Foreign Corrupt Practices Act.

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