NEW YORK/WASHINGTON - Boeing has agreed to plead guilty to a criminal fraud conspiracy charge to resolve a US Justice Department investigation linked to two 737 Max fatal crashes, a government official said on July 7.
The plea, which requires a federal judge's approval, would brand the planemaker a convicted felon. Boeing will also pay a criminal fine of US$243.6 million (S$328.4 million), a Department of Justice (DOJ) official said.
The charge relates to two 737 Max crashes in Indonesia and Ethiopia over a five-month period in 2018 and 2019 that killed 346 people and prompted the families of the victims to demand that Boeing face prosecution.
A guilty plea potentially threatens the company's ability to secure lucrative government contracts with the likes of the US Defence Department and Nasa, although it could seek waivers. Boeing became exposed to criminal prosecution after the DOJ in May found that the company had violated a 2021 settlement involving the fatal crashes.
Still, the plea spares Boeing a contentious trial that could have exposed to even greater public scrutiny many of the company's decisions leading up to the fatal Max plane crashes.
This story is from the July 09, 2024 edition of The Straits Times.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the July 09, 2024 edition of The Straits Times.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
S'pore key for StanChart as trade, investments in Asean grow: CEO
Region starting to rival Greater China, S. Asia and Mid-East in contributing to bank's business
Should you time your resignation to avoid losing out on bonus?
In this series, manpower reporter Tay Hong Yi offers practical answers to candid questions on navigating workplace challenges and getting ahead in your career. Get more tips by signing up to The Straits Times' HeadStart newsletter.
Entrepreneur fails to stop bankruptcy action over $34 million business debt
Court rejects her plan to repay banks via sale of properties, revenue from leasing
Markets cheer prospect of Fed rate cuts
Expect more gains this week, although there are some minefields further ahead
US companies avoiding layoffs, but hiring has slowed
As job growth has slowed and unemployment has crept up, some economists have pointed to a sign of confidence among employers: They are, for the most part, holding on to their existing workers.
Sustainable finance, GenAl among skills identified for those in banking
IBF and SkillsFuture working to build capabilities, particularly among SMEs
Saving S-E Asia's trees requires action on climate, land use: Study
Region's forests facing 'double whammy' of threats from climate change, deforestation
Only female in milling event out to break barrier
When Ms Shanice Wong, 20, realised she was the only female in a male-dominated event, she knew she had to rely on \"girl power\" to secure a win.
Poly student leans on hotel industry training
A nosy handyman tests your professionalism. Attendees of a wedding party create a ruckus in the hotel lobby. A distraught guest crumbles in panic after losing her passport.
Parlaying their skills at ‘Olympics'
Duo fly the flag for S'pore with expertise in trains
