Photo: AFPLondon: Jet engine maker Rolls-Royce has agreed to pay £671 million to settle bribery and corruption charges brought by authorities in Britain, the US and Brazil. UK High Court judge Brian Leveson approved a deferred prosecution agreement during a public hearing on Tuesday. US Justice Department officials have said that part of the business obtained through the scheme was for Rolls-Royce Energy Systems Inc., a Rolls-Royce subsidiary based in Mount Vernon, Ohio. Under the terms of the deal, the company will pay £497 million plus interest to British authorities on a schedule of up to five years. It will pay the US authorities $169 million and $25.6 million to the Brazilians.

Source: Mint January 18, 2017 03:42 UTC