Embattled British aircraft manufacturer, Airbus, has reportedly admitted doling out a whopping US$50million of questionable money to some intermediaries in Malaysia as a 3billion pounds fine over bribery weighs on the company.
The money was paid to a Formula 1 team owned by two board members of Malaysian Airways. Those officials have not been named.
According to reports, the disgraced plane manufacturer had paid the money to the team on account of these two board members even as it was carrying out a transaction to sell planes to Malaysia.
The conduct sets Airbus for penalties under the UK’s Anti-bribery Act 7, under which British companies are to ensure that they do not deal with persons of conflicted interest in any transaction.
The fact that the two owners of the Formula 1 team in question were Board members of Malaysian Airways suggests that conflict of interest was involved.
Malaysia’s anti-graft organization has since been investigating the scandal.
Meanwhile, Airbus is also said to have paid out bribes in Sri Lanka as well. Here, Airbus allegedly hired the wife of a Sri Lankan Airways Executive as an intermediary and paid her US$ 2million commission to facilitate contracts.
The Sri Lankan government has since opened investigations into the matter, with Sri Lanka Air announcing it will cooperate with the investigation.
Meanwhile, in Ghana, President Akufo-Addo has instructed Special Prosecutor, Martin Amidu, to similarly open investigations into Ghana’s part of the massive international scandal, in which Airbus is alleged to have attempted to pay up to 5million euros in bribes to boost its chances of landing supply contracts.