Overview

• Raytheon has entered into a three-year deferred prosecution agreement, requiring increased oversight and compliance with anti-corruption laws.
• The company is accused of inflating costs on contracts for Patriot missile systems and radar systems, resulting in significant overpayments by the U.S. Defense Department.
• Raytheon employees bribed a high-ranking Qatari military official to obtain lucrative defense contracts, concealing these bribes through falsified documents.
• The $950 million settlement includes criminal penalties, civil fines, restitution, and the return of profits from inflated contracts and bribery schemes.
• This settlement marks a rare instance of a major defense contractor facing substantial penalties for white-collar crimes, highlighting ongoing scrutiny of industry practices.