Boeing Sells Secret Military Chip to China
CHICAGO - The Boeing Co. has agreed to pay $15 million to settle federal allegations that it broke the law by selling commercial airplanes equipped with a small chip that has military applications.
It is among the largest fines a company has ever faced for violations of the Arms Control Export Act, which regulates the sale of defense products to overseas interests. The Chicago-based company also agreed to oversight requirements because settlements over previous violations didn't result in full compliance.
[...]
To ensure compliance, the company promises to cooperate with on-site audits for three years.
Boeing has paid millions in previous settlements. In 1998, the company was fined $10 million for sharing technology in a space rocket venture, The Seattle Times reported.
And in 2001, it paid just over $4 million for transferring technology without an export license.
Ah, well. These petty amounts are nothing compared to what Boeing and other offense contractors take from the treasury , the treasury funded with your tax dollars.
It is among the largest fines a company has ever faced for violations of the Arms Control Export Act, which regulates the sale of defense products to overseas interests. The Chicago-based company also agreed to oversight requirements because settlements over previous violations didn't result in full compliance.
[...]
To ensure compliance, the company promises to cooperate with on-site audits for three years.
Boeing has paid millions in previous settlements. In 1998, the company was fined $10 million for sharing technology in a space rocket venture, The Seattle Times reported.
And in 2001, it paid just over $4 million for transferring technology without an export license.
Ah, well. These petty amounts are nothing compared to what Boeing and other offense contractors take from the treasury , the treasury funded with your tax dollars.
posted by TheFuriousGourmet | 7:29 AM
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