Raytheon, a subsidiary of RTX, will pay over $950 million to settle investigations into foreign bribery and export control fraud.

• The Department of Justice investigations against Raytheon subsidiary of defense contractor RTX have resulted in a settlement of over $950 million.
• In New York federal court, Raytheon was accused of a scheme to bribe a high-ranking government official in Qatar in exchange for lucrative business opportunities, as well as failing to disclose the bribes in export licensing applications with the State Department, in violation of the law.
• The company confessed to participating in two different fraudulent schemes related to the Patriot missile systems and a radar system, in addition to other defense products and services.

On Wednesday, the Raytheon subsidiary of a defense contractor agreed to pay over $950 million to settle investigations by the Department of Justice into a suspected government contract fraud scheme, violations of foreign bribery laws, and the Arms Export Control Act.

Raytheon agreed to pay more than $124 million to settle charges filed by the SEC that it violated the Foreign Corrupt Practices Act by paying bribes of over $32 million to a relative of the emir of Qatar and military and government officials in that country in exchange for obtaining defense contracts there. Of that settlement, more than $22 million will be offset by Raytheon's settlement with the DOJ.

As part of the DOJ settlement, the company agreed to enter into deferred prosecution agreements in federal district courts in Brooklyn, New York, and Massachusetts for the conduct in question.

The company was accused of conspiring to break anti-bribery laws in Qatar by bribing a high-level government official and of failing to disclose bribes in export licensing applications with the State Department.

In the Massachusetts case, Raytheon confessed to two separate schemes to defraud the Defense Department in relation to the Patriot missile systems and a radar system, as well as other defense products and services.

The company will retain an independent monitor for three years and enhance its internal compliance program as part of the settlement, as announced by the DOJ.

The DOJ's Criminal Division, as stated by Deputy Assistant Attorney General Kevin Driscoll, revealed that Raytheon engaged in fraudulent schemes to secure military contracts from the U.S. government and obtained business through bribery in Qatar.

The corrupt and fraudulent behavior of a publicly traded U.S. defense contractor undermines public trust and harms the DOD, law-abiding businesses, and American taxpayers, according to Driscoll.

Raytheon Technologies stated that the settlements with the DOJ and the SEC are related to previously disclosed probes and that the "legacy legal matters pertain to actions that mainly took place at Raytheon Company before 2020."

"RTX has acknowledged the misconduct that took place and has taken responsibility for it. The company has been actively working to rectify the issue and will continue to do so. They are committed to collaborating with the incoming independent monitor to strengthen their ethics and compliance program."