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Sunday, September 06, 2009

BAE told to plead guilty on bribery allegations or face trial

BAE SystemsBAE Systems has been given a deadline of the end of the month to negotiate a U.S.-style plea bargain with the Serious Fraud Office or face a full-blown criminal trial.

The guilty plea would involve bribery allegations relating to the sale of aircraft and other equipment to the Czech Republic, South Africa and Tanzania, according to sources close to the defence and aerospace giant.

While the SFO refused to comment, it is understood this would mean BAE paying fines potentially running to tens ofmillions of pounds as the penalty will relate to the £2.5billion-plus contracts rather than the scale of the bribes.

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