Aviation maintenance services provider AAR Corp. disclosed that several former employees may have bribed officials in Nepal and South Africa to win contracts, and chose to self-report violations of the Foreign Corrupt Practices Act (FCPA) to authorities in the U.S. and U.K.
Illinois-based AAR said in a disclosure to the Securities and Exchange Commission (SEC) published Monday that it self-reported FCPA violations to the Department of Justice (DOJ), the SEC, and the U.K. Serious Fraud Office in 2019. The company noted, “Selling, general, and administrative expenses increased … over the prior year quarter primarily due to increased costs of $3.9 million related to the previously disclosed FCPA investigations,” adding that it is fully cooperating with the probes.
