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21/12/2010
BAE Systems Fined £500,000
A defence group has been fined £500,000 over accounting offences.
BAE Systems was fined for failing to keep proper records of payments it made to an adviser in Tanzania.
Ahead of winning a £28m Tanzanian military radar contract, the group paid £7.7m to two firms controlled by businessman Shailesh Vithlani.
The ruling at Southwark Crown Court comes after BAE agreed a deal with the Serious Fraud Office.
BAE also has to pay £225,000 costs.
(BMcN)
BAE Systems was fined for failing to keep proper records of payments it made to an adviser in Tanzania.
Ahead of winning a £28m Tanzanian military radar contract, the group paid £7.7m to two firms controlled by businessman Shailesh Vithlani.
The ruling at Southwark Crown Court comes after BAE agreed a deal with the Serious Fraud Office.
BAE also has to pay £225,000 costs.
(BMcN)
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