Raytheon to Pay $950 Million Over Fraud and Bribery Charges.
Raytheon participated in criminal schemes to defraud the U.S. government in connection with contracts for critical military systems.
Raytheon, a subsidiary of major U.S. defense contractor RTX, will pay more than $950 million to resolve allegations of defrauding the U.S. government and engaging in bribery, the Department of Justice (DOJ) announced.
“Raytheon participated in criminal schemes to defraud the U.S. government in connection with contracts for critical military systems and secured business through bribery in Qatar,” a DOJ prosecutor said in a statement.
As part of the settlement, Raytheon agreed to two three-year deferred prosecution agreements (DPAs). If the company complies with the terms during this period, the criminal charges will be dropped.
According to the DOJ, Raytheon admitted to operating “two separate schemes to defraud the Department of Defense (DOD) related to the supply of defense goods and services, including PATRIOT missile systems and a radar system.”
The second agreement involves two charges connected to a bribery scheme targeting a Qatari official, followed by the company’s failure to disclose the payments in a submission to the U.S. Department of State.
“Both agreements require Raytheon to appoint an independent compliance monitor for three years, enhance its internal compliance program, report any further misconduct to the DOJ, and cooperate with any ongoing or future criminal investigations,” the DOJ added.
The subsidiary also reached a separate agreement under the False Claims Act concerning fraudulent pricing schemes.
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