Raytheon Settles Fraud and Bribery Charges for $950 Million

Raytheon Technologies (RTX) has agreed to pay over $950 million to settle U.S. Department of Justice investigations into government contract fraud and foreign bribery. Key allegations include providing defective pricing information that led to $111 million in overpayments for PATRIOT missile systems and engaging in a scheme to bribe a high-ranking Qatari military official for defense contracts, totaling over $32 million. The settlement includes criminal penalties, civil fines, restitution, and agreements to retain an independent compliance monitor for three years. RTX acknowledged its misconduct and has committed to improving compliance and ethics programs. The company will enter into deferred prosecution agreements in federal courts, which could dismiss charges if compliance is maintained. This case underscores ongoing concerns about transparency and accountability in defense contracting.