Fined U.S. manufacturer of safety equipment

Hialeah : FL : USA | Jul 13, 2011 at 8:16 PM PDT

By rawaha

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The manufacturer of U.S. security, Armor Holding, agreed to pay $ 16 million in fines after being accused of bribing UN officials to get contracts worth millions to supply body armor to the peacekeeping organization.

With this agreement, the company will not be subject to criminal proceedings in the U.S.

The executive of the Securities and Exchange Commission, Robert Khuzami described bribes to UN officials no less reprehensible cone that illicit payments to foreign governments.

The charges relate to activities between 2001 and 2007, before the Armor Holdings was acquired by British defense giant BAE Systems.

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US officials hit security equipment producer Armor Holdings, a subsidiary of BAE Systems, with $16 million in fines

rawaha is based in Karāchi, Sind, Pakistan, and is a Stringer for Allvoices.

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US officials hit security equipment producer Armor Holdings, a subsidiary ...