PPRuNe Forums - View Single Post - SFO raids four premises in BAE contracts probe
Old 15th Feb 2008, 20:41
  #233 (permalink)  
BEagle
 
Join Date: May 1999
Location: Quite near 'An aerodrome somewhere in England'
Posts: 26,858
Received 334 Likes on 116 Posts
echo5, good that you're back in your box. Whilst there, perhaps you would care to read this item from today's The Times:

Central to the SFO’s investigation was whether BAE ran a £60 million "slush fund" offering incentives to Saudi officials to secure lucrative orders.

BAE has always maintained that it acted within the law and has said that the arms deals are government to government in the final instance.

Prince Bandar has also denied that he profited from the deal.

The High Court can only determine whether the decision to stop the investigation was legal or not.


It can order the SFO to reconsider its decision if it finds that it was illegal.

An investigation by the US Justice Department over BAE’s arms deals with Saudi Arabia, which was announced last year, is continuing.

It's far from a 'done deal'.......

And, from the Sunday Times of 17 Feb 2008:

Meanwhile, rebel shareholders suing BAE over bribery allegations have won an extension to a court order that in effect freezes the American property assets of Prince Bandar Bin Sultan. The lawsuit centres on allegations that BAE paid more than £1 billion in bribes to Saudi officials, including Bandar, as part of an agreement to supply military equipment to Saudi Arabia.

Bandar has consistently denied the allegations.

BAE has strongly denied making illegal payments.

Last edited by BEagle; 17th Feb 2008 at 08:19.
BEagle is online now