BAE Systems to Pay $446 Million U.S & U.K Prosecutors

BAE Systems Plc has agreed to pay as much as $450 million in fines to end the six year old bribery and fraud case filed against it.

BAE will pay these fines to the U.K. and U.S. prosecutors and end the investigations done against it by these prosecutors. BAE will pay $400 million to the U.S. prosecutor alone and plead guilty of conspiring to make false statements in connection with regulatory filings. It will pay $46 million to the U.K. prosecutors.

This settlement will acquit the company of the charges made against it and end the investigations into the company’s business dealings in various countries like Tanzania, South Africa, the Czech Republic and Saudi Arabia.