Defense contractor Raytheon agrees to pay $252M penalty to resolve Qatar bribery charges
RTX Corporation, the defense contractor formerly known as Raytheon, has agreed to pay the U.S. government $252 million to resolve criminal charges alleging it paid bribes to secure contracts with Qatar
NEW YORK — RTX Corporation, the defense contractor formerly known as Raytheon, has agreed to pay the U.S. government $252 million to resolve criminal charges alleging it paid bribes to secure contracts with Qatar, federal prosecutors said Wednesday.
The company entered into a deferred prosecution agreement on charges of violating the anti-bribery provision of the Foreign Corruption Practices Act and the Arms Export Control Act.
It also agreed to pay a $52.5 million civil penalty to resolve a parallel Securities and Exchange Commission investigation and must forfeit at least $37 million to satisfy both probes.
At a brief hearing in federal court in Brooklyn, lawyers for RTX waived their right to an indictment and pleaded not guilty to both counts. They did not object to any of the allegations in court documents filed in conjunction with the agreement.
Under the agreement, the company will have to demonstrate good conduct for the next 3½ years and foster a culture of ethics and compliance with anti-corruption laws.
Messages seeking comment were left for RTX Corporation and the Qatari embassy in Washington.
RTX said in a July regulatory filing that it set aside $1.24 billion to resolve pending legal and regulatory matters. The company's president and CEO, Christopher Calio told investors that the investigations largely involved issues that predated the Raytheon-United Technologies merger that formed the current company in 2020.
“These matters primarily arose out of legacy Raytheon Company and Rockwell Collins prior to the
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