BAE faces two new Swiss corruption investigations
Associated Press reports:
Swiss authorities have widened a corruption investigation linked to arms deals by the British aerospace company BAE Systems PLC, prosecutors said.
Federal prosecutors are conducting three criminal investigations into possible money laundering linked to the company, spokeswoman Jeannette Balmer told The Associated Press late Wednesday.
Previously prosecutors had confirmed only one investigation and Balmer declined to comment on what prompted Swiss authorities to open two additional investigations.
The investigations center on allegations that BAE used Swiss bank accounts to pay millions of pounds (dollars) in bribes to officials from Saudi Arabia in return for contracts. BAE has always said it acted lawfully.
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