Airbus subsidiary GPT Special Project Management will pay approximately £30.3 million (U.S. $42.1 million) after pleading guilty Wednesday to corruption relating to contracts it was awarded for work carried out in Saudi Arabia.
The U.K. Serious Fraud Office (SFO) opened an investigation into GPT in August 2012 relating to the award of a £2 billion (U.S. $2.8 billion) contract for high-level intranet and communications work for the Saudi National Guard. According to the SFO, the corrupt activity occurred between December 2008 and July 2010.
Airbus acquired GPT in 2007 from Swedish telecommunications company Ericsson.
GPT pleaded guilty to one count of corruption for violations of Section 1 of the Prevention of Corruption Act before the Honorable Justice Bryan at Southwark Crown Court. It follows joint charges brought by the SFO in July 2020 against the company and three individuals, whose trials will be held in May 2022.
In sentencing GPT, the judge ordered the company to pay a £20.6 million (U.S. $28.6 million) confiscation order, £7.5 million (U.S. $10.4 million) fine, and £2.2 million (U.S. $3.1 million) in costs.
GPT ceased operations in April 2020.
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