Aviation Giant AAR Corp. Admits to Bribery Scandal, Agrees to Pay $55 Million Settlement
2024-12-20
Fortune on MSN.com
AAR Corp., a leading aviation company with billions in military contracts, has admitted to bribing officials in Nepal and South Africa. The company will pay $55 million to resolve bribery investigations by the US Justice Department and Securities and Exchange Commission. This settlement highlights the importance of corporate accountability and transparency in the aviation industry, particularly in regards to government contracts and international business dealings. The bribery scandal has significant implications for the company's reputation and underscores the need for stricter anti-corruption measures. AAR Corp. must now work to regain public trust and ensure compliance with anti-bribery laws, including the Foreign Corrupt Practices Act.
