Airbus Unit Ran Long-Running Bribery Schemes With a Fat Annual Budget
$300 million annual budget to illegally sway government officials...
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Airbus used a department with a $300 million annual budget to illegally sway government officials and other decision makers, boosting profit by more than $1 billion in a long-running bribery campaign, according to documents filed in the biggest corporate bribery case on record.
The crimes spanned countries including Malaysia, Russia and China over 13 years, Bloomberg News reports. A French prosecutor said in court that the plan helped to boost the company's profits by 1.05 billion euros ($1.2 billion).
The European planemaker admitted guilt and agreed to pay $4 billion in a settlement approved Friday by courts in France, the U.S. and the U.K.
U.S. District Court Judge Thomas Hogan called the conduct by Airbus employees and executives "pervasive and pernicious" and asked prosecutors whether individuals would be charged.
The investigation is continuing, answered U.S. prosecutor Elina Rubin-Smith. She told the judge that Airbus' deal requires them to aid any efforts to charge individuals.
U.S. Assistant Attorney General Brian Benczkowski of the Justice Department's Criminal Division said, "Airbus engaged in a multiyear and massive scheme to corruptly enhance its business interests by paying bribes in China and other countries and concealing...
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