RTX Corporation to Pay Over $950 Million to Settle Bribery and Procurement Fraud Cases

Oct 16, 2024, 05:49 PM

RTX Corporation, formerly known as Raytheon, has agreed to resolve multiple legal issues with the U.S. government. The company will pay $252 million to settle charges related to violations of the Foreign Corrupt Practices Act and sanctions, stemming from a bribery scheme to secure Qatari military contracts. Additionally, RTX will pay $574.7 million to settle a U.S. procurement fraud and pricing investigation. The total settlement amounts to over $950 million. The resolution includes a deferred prosecution agreement with the Department of Justice. The bribery scheme involved Raytheon employees bribing a high-level Qatari military official and falsifying documents to the government between 2012 and 2016. RTX also agreed to pay $290 million to settle a criminal corruption probe into violations of arms export laws, as stated by a federal judge in Brooklyn, New York.