July 11, 2008

Swiss Widen Probe into BAE Arms Deal

Via Swiss Widen Probe into BAE Arms Deal:

Swiss authorities have widened a corruption investigation linked to arms deals by the British aerospace company BAE Systems PLC, prosecutors said.

The investigations center on allegations that BAE used Swiss bank accounts to pay millions of pounds in bribes to officials from Saudi Arabia in return for contracts.

An investigation by Britain's Serious Fraud Office was halted in late 2006 after the Saudi Arabian government threatened to withhold cooperation on critical issues of anti-terrorism.