BAE is the company that was contracted by the Manning PNM administration to build and deliver three Offshore Patrol Vessels to Trinidad and Tobago's coast in a deal valued at more than TT$1.5 billion.
The new People's Partnership government has decided to scrap the deal and is demanding payment of more than $TT60 million for breach of contract and a refund of the money paid for the OPVs.
Since the government announced the decision the British Government has met with the Trinidad and Tobago government on behalf of BAE, trying to salvage an agreement. However Port of Spain has insisted that it stands by its decision.
Opposition leader Keith Rowley has slammed the government for scrapping the deal and appears to be seeking the interest of BAE in the matter.
Read the story: Rowley on warpath over cancellation of OPV's, calls PM 'irresponsible, incompetent'
Related story: UK shipbuilder offered T&T defective patrol boats: Sandy
In announcing the fine in the U.S. a top Justice Department official said it is the largest criminal fines ever levied in the United States against a company for business-related violations.
BAE Systems admitted Monday to knowingly making false statements to U.S. investigators to hide its failure to ensure compliance with the Foreign Corrupt Practices Act.
"The actions of BAE Systems impeded U.S. efforts to ensure international trade is free of corruption and maintain control over sensitive U.S. technology," said Acting Deputy Attorney General Gary Grindler.
A CNN report said federal prosecutors pointed out that BAE Systems gained more than US$200 million from the false statements and failures to make required disclosures to the U.S. government.
The scheme involved knowingly failing to identify commissions paid to third parties for help in illegally soliciting and promoting sales of defence items, the report said.
More on the story at CNN
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