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Office of Public Affairs reports Raytheon to pay over $US 950m in connection to fraud

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Published on: 17 October 2024

Published by LNB News

LNB News 17/10/2024

Document Information

Issue Date: 17 October 2024

Published Date: 17 October 2024

Jurisdiction(s): World

Article summary

The US Department of Justice's Office of Public Affairs has announced that Raytheon Company (Raytheon) has agreed to pay over $US 950m to settle allegations of defective pricing, foreign bribery and export control violations, following two investigations by the US Department of Justice, one involving a government fraud scheme and the other on violations of the Foreign Corrupt Practices Act and the Arms Export Control Act. Raytheon admitted to engaging in two separate schemes to defraud the Department of Defence, specifically involving PATRIOT missile systems and a radar system. Raytheon was also charged with conspiring to bribe a government official in Qatar and violating export control regulations. Raytheon has entered into a three-year deferred prosecution agreement (DPA).

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