Publication: Sapa Issued: London Date: 2007-06-26 Reporter: Sapa

US Investigators Probing BAE Systems

 

Publication 

Sapa-AFP
BRITAIN-LD-DEFENCE-SAUDI

Issued

 London
Date

2007-06-26

Reporter

Sapa

 

US authorities are investigating British arms manufacturer BAE Systems' compliance with anti-corruption laws, including those regarding lucrative Saudi contracts, BAE said Tuesday.

"BAE Systems has been notified by the US Department of Justice that it has commenced a formal investigation relating to the company's compliance with anti-corruption laws including the company's business concerning the Kingdom of Saudi Arabia," it said in a statement to the London Stock Exchange.

The company has been at the centre of allegations that it set up a secret slush fund for members of the Saudi royal family to secure business and made illegal payments to those involved in its deals. It denies the charges.

With acknowledgement to Sapa.