Airbus will pay around $4 billion to settle corruption probes by the U.S., British and French authorities into contract dealings in a deal believed by experts to be the largest ever in a bribery case
) bribed public officials and hid the payments as part of a pattern of corruption that led to a record $4 billion bribery settlement with France, Britain and the United States, French prosecutors said on Friday.
The simultaneous settlements in Britain, France and the United States mean the European planemaker has avoided criminal prosecution. The planemaker would also pay around a 525 million euros fine to U.S. Department of Justice and roughly 984 million euros to Britain’s Serious Fraud Office , it said. In a London court hearing, an Airbus lawyer said the settlements “draw a clear line under the investigation and under the grave historic practices”.In calculating the final amount, the French court reduced the public fines by half to reflect Airbus’s “exemplary cooperation” with the investigation, prosecutors said.
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