Saturday, July 20, 2024

Boeing Pleads Guilty: Deal With US Authorities

Date:

Boeing says it has “reached a settlement” with the US Department of Justice over two fatal 737 MAX crashes five years ago. “We have reached agreement in principle on the terms of a resolution with the Department of Justice,” the company said in a statement sent to AFP, adding that the deal was subject to “approval of specific terms.”

A US government official quoted by British news agency Reuters said Boeing had agreed to plead guilty to charges of conspiracy to commit criminal fraud to settle a US Justice Department investigation.

The indictment relates to two accidents that killed 346 people in Indonesia and Ethiopia in 2018 and 2019.

Under the deal with U.S. prosecutors, Boeing faces $487.2 million in criminal fines, the maximum allowed by law, although the actual amount will be determined by a judge.

The company will establish a corporate monitor and spend at least $455 million over the next three years to strengthen its compliance and security programs, which requires court approval.

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