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Boeing Fraud Enforcement Action: Part 3 – Remediation and Going Forward | Thomas Fox

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This week I am considering the recent settlement by the Department of Justice (DOJ) with The Boeing Company (Boeing) around its fraud in the certification of its 737 MAX aircraft. The resolution was via a Deferred Prosecution Agreement (DPA). Under the DPA, Boeing agreed to pay a total amount of $2.5 billion. According to a DOJ Press Release, this total amount consisted of “a criminal monetary penalty of $243.6 million, compensation payments to Boeing’s 737 MAX airline customers of $1.77 billion, and the establishment of a $500 million crash-victim beneficiaries fund to compensate the heirs, relatives, and legal beneficiaries of the 346 passengers who died in the Boeing 737 MAX crashes of Lion Air Flight 610 and Ethiopian Airlines Flight 302.” This enforcement involved a fraud by Boeing on the US government. ....

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Boeing Charged with 737 Max Fraud Conspiracy and Agrees to Pay over $2.5 Billion

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The Boeing Company (Boeing) has entered into an agreement with the Department of Justice to resolve a criminal charge related to a conspiracy to defraud the Federal Aviation Administration’s Aircraft Evaluation Group (FAA AEG) in connection with the FAA AEG’s evaluation of Boeing’s 737 MAX airplane.
Boeing, a U.S.-based multinational corporation that designs, manufactures, and sells commercial airplanes to airlines worldwide, entered into a deferred prosecution agreement (DPA) in connection with a criminal information filed today in the Northern District of Texas. The criminal information charges the company with one count of conspiracy to defraud the United States. Under the terms of the DPA, Boeing will pay a total criminal monetary amount of over $2.5 billion, composed of a criminal monetary penalty of $243.6 million, compensation payments to Boeing’s 737 MAX airline customers of $1.77 billion, and the establishment of a $500 million crash-vic ....

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Boeing to pay more than $2.5B fines in conspiracy case | 103.5 WEZL

|January 7, 2021 at 4:21 PM EST - Updated January 7 at 6:32 PM
CHARLESTON, S.C. (WCSC) - Boeing has agreed to pay more than $2.5 billion in connection to a conspiracy to defraud the FAA related to the evaluation of the company’s 737 MAX airplane, according to officials with the United States Department of Justice.
Government officials said Boeing entered into a deferred prosecution agreement on Thursday in the Northern District of Texas and was charged with one count of conspiracy to defraud the United States.
According to the Justice Department, Boeing concealed information from the FAA on the operation of the 737 Max and attempted to cover up the deception. The government states that Boeing deceived FAA evaluators of the 737 regarding a part of the aircraft which they say was essential and which pilots should have had information on. ....

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Boeing to pay more than $2.5B fines in conspiracy case | Y102.5 Charleston

Boeing has agreed to pay more than $2.5 billion in connection to a conspiracy to defraud the FAA related to the evaluation of the company’s 737 MAX airplane, according to officials with the United States Department of Justice. ....

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DOJ fines Boeing over $2.5B to resolve conspiracy fraud charge related to 737 Max crashes

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Under the terms of the three-year deferred prosecution agreement, Boeing will pay a total criminal monetary amount of over $2.5 billion, composed of a penalty of $243.6 million and a $1.77 billion commitment to provide Boeing’s airline customers for financial losses resulting from the grounding of the 737 Max.
In addition, a $500 million crash-victim beneficiaries fund will be established to compensate the heirs, relatives, and legal beneficiaries of the 346 passengers who died in the two crashes.
This is a substantial settlement of a very serious matter, and I firmly believe that entering into this resolution is the right thing for us to do a step that appropriately acknowledges how we fell short of our values and expectations, Boeing President and CEO David Calhoun said in a memo to employees. While we deeply regret the conduct described in the agreement, I am confident that it isn’t reflective of our employees as a whole or the culture or chara ....

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