TIMESONLINE: The Department of Justice is looking into corruption allegations surrounding arm deals with Saudi Arabia
The US Department of Justice has begun a formal fraud investigation into BAE Systems, the company has revealed just days after Mike Turner, chief executive, insisted “we’ve got nothing to hide”.
In a short statement today, BAE said US authorities would be looking into the company’s compliance with anti-corruption laws including its business with the Kingdom of Saudi Arabia.
Shares in the group tumbled nearly 7 per cent, wiping more than £1 billion from the value of the company. US launches fraud investigation into BAE Systems (more) By Steve Hawkes
THE GUARDIAN:
BAE nosedives on US inquiry
Mark Alexander
