European multinational Airbus is the latest company to be hit with a big — indeed, colossal — fine for bribery. The fines (from France, the UK, and the US) happen to add up to a record-breaking $4 billion. You would think the company, which happens to be the world’s biggest producer of airplanes, would be pretty good at what it does. Apparently they’re not good enough to be confident in gaining contracts without cheating.
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LINK: Airbus fined billions in global bribery settlement (from Reuters via Deutsche Welle)
…The US Department of Justice (DOJ) said the settlement was the biggest ever foreign bribery agreement.
The DOJ said Airbus’ settlement with it related to a “scheme to offer and pay bribes to foreign officials, including Chinese officials, in order to obtain and retain business, including contracts to sell aircraft.” Airbus had had a “scheme to use third-party business partners to bribe government officials, as well as non-governmental airline executives, around the world,” it said.
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