‘Higher-ups are in our pocket' — An aviation giant with billions in military contracts admits to bribing officials in Nepal and South Africa [Fortune]
AAR Corp. (AIR)
Last aar corp. earnings: 3/24 04:05 pm
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Source: Fortune
to doling out millions in bribes to foreign government officials in a complex scheme that involved bid-rigging, phony payments for services, and the use of code names such as “Sisi,” “Cuz,” and “Boetie.” All told, AAR Corp. profited $24 million as a result of the bribery operation, officials said. AAR Corp. will pay $55 million in fines and penalties to resolve bribery investigations into payments made to high-ranking government officials in Nepal and South Africa, according to the Department of Justice (DOJ). Wood Dale, Illinois-based AAR Corp. has also entered an 18-month non-prosecution agreement (NPA) in connection with the case. Authorities said a former executive of an AAR subsidiary previously pleaded guilty for his role in the scheme involving officials in Nepal, while a third-party agent of AAR pleaded guilty for his role in the South Africa bribes. “AAR bribed high-level government officials to obtain business with state-owned airlines in Nepal and South Africa and rea
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AIR
News
- AAR announces divestiture of non-core Landing Gear Overhaul business to optimize portfolio [Yahoo! Finance]Yahoo! Finance
- AAR announces divestiture of non-core Landing Gear Overhaul business to optimize portfolioPR Newswire
- AAR resolves Foreign Corrupt Practices Act investigations with the DOJ and SEC [Yahoo! Finance]Yahoo! Finance
- AAR resolves Foreign Corrupt Practices Act investigations with the DOJ and SECPR Newswire
- SEC says aerospace firm AAR settles charges over bribing officials [Yahoo! Finance]Yahoo! Finance
AIR
Earnings
- 9/23/24 - Miss
AIR
Sec Filings
- 12/20/24 - Form 8-K
- 12/19/24 - Form 8-K
- 12/2/24 - Form 4
- AIR's page on the SEC website