Defense contractor RTX Corporation, formerly Raytheon, agreed on Wednesday to a $950 million settlement with U.S. authorities to resolve allegations of bribery and fraud related to its defense contracts with Qatar.
The defense giant, which rebranded from Raytheon after merging with United Technologies in 2020, has entered deferred prosecution agreements in separate federal cases in Massachusetts and the New York City borough of Brooklyn. The company must hire independent monitors and adhere to anti-corruption measures over the next three years to remain compliant.
The $950 million payment includes criminal fines, civil penalties, restitution and the return of profits made from what prosecutors charged were inflated defense contracts and bribes paid to a high-ranking Qatari military official from 2012 to 2016…