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Thales Group Faces Investigations for Alleged Corruption and Influence Peddling
ByAinvest
Sunday, Jun 30, 2024 5:36 am ET1min read
French aerospace and defense company Thales is under investigation for suspected corruption and influence peddling, with searches conducted at its European offices. The probes, dating back to 2016, involve alleged corruption in Brazilian naval deals and possibly other overseas transactions. Thales asserts adherence to regulations and industry standards, cooperating with authorities.
Thales, a renowned French defense and electronics company, is currently embroiled in a series of corruption investigations in Europe and beyond. According to reports from Reuters [1] and France 24 [2], authorities in France, Spain, and the Netherlands conducted searches at Thales' offices between June 28 and July 1, 2023.
The primary focus of the investigations stems from two distinct cases. The first one, which began in 2016, revolves around allegations of corruption of a foreign public official, criminal conspiracy, and money laundering concerning the sale of submarines and the construction of a naval base in Brazil. The second investigation, launched in June 2023, centers around suspected corruption, influence peddling, criminal conspiracy, and money laundering linked to the sale of military and civilian equipment abroad [1].
Despite the accusations, Thales maintains its commitment to adhering to national and international regulations. A spokesperson for the company stated that Thales has developed and implemented a global compliance program that meets the highest industry standards [1].
Investigations into Thales' activities are still ongoing, with details about potential wrongdoing and the extent of its impact on the company's operations yet to be determined. The ongoing probes have undoubtedly raised concerns among investors and stakeholders, potentially impacting Thales' reputation and future business prospects.
[1] Reuters. (2024, June 29). Police search Thales offices in three countries as part of corruption probe. https://www.reuters.com/world/europe/police-search-thales-offices-three-countries-corruption-probe-2024-06-29/
[2] France 24. (2024, June 29). Thales offices in three countries searched in corruption investigation. https://www.france24.com/en/europe/20240629-thales-offices-in-three-countries-searched-in-corruption-investigation
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