A giant Dick Olver, chairman of BAE, paying peanuts
BAE managed to escape with a fine of £500,000 plus costs in court today. Its plea bargain (worth £30 million) to end years of corruption investigations was structured so poorly that if the court fined more, this would be deducted from the amount Tanzania is to receive in reparations. The judge described “moral pressure” to therefore minimise the fine.
But it is heartening that the judge, like the rest of us, could clearly see through BAE’s story:
“..on the basis of the documents shown to me it seems very naïve in the extreme to think that Mr Vithlani was simply a well-paid lobbyist” Read more »
We braved the snow to demonstrate outside BAE’s court hearing
Will a giant Dick Olver get away with paying peanuts?
Sub-zero temperatures didn’t deter us from voicing our anger outside court today. Arms company BAE was inside and set to get away with paying utter peanuts: buying an end to years of corruption investigations by the Serious Fraud Office (SFO). But it seems we weren’t the only people to spot injustice: the judge has so far not rubber-stamped the proposed plea bargain. He has instead postponed sentencing until tomorrow.
The SFO investigations involved allegations of corrupt payments of over £1,000,000,000 in nine countries. The proposed plea bargain on the other hand is a measly £30 million, admitting only to “accounting errors” in a single disastrous deal for Tanzania. Read more »