The Securities and Exchange Commission has sent a subpoena to Raytheon Co. as part of an investigation into what it’s calling “improper payments.”
The Waltham, Massachusetts-based defense contractor disclosed the subpoena in a regulatory filing. The payments in question were “made by Thales-Raytheon Systems (TRS), Raytheon or anyone acting on their behalf in connection with TRS or Raytheon contracts in certain Middle East countries since 2014,” the filing said.
Thales-Raytheon Systems is a joint venture between Raytheon and the French aerospace and defense company, Thales Group. The joint venture, focused on defense technology, is headquartered in Massy, France.
“Raytheon maintains a rigorous anti-corruption compliance program, is cooperating fully with the SEC’s inquiry, and is examining whether there has been any conduct that is in violation of Raytheon policy,” the company added.
Raytheon (NYSE: RTN) said the company does “not believe the results of this inquiry…Read the full story from the Washington Business Journal.