Boeing Settles 737 Max Fraud Charge With $2.5 Billion Agreement
- Justice Department announces pact following two-year probe
- Company charged with conspiracy to defraud the U.S. with plane
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Boeing Co. reached a $2.5 billion agreement to settle a criminal charge that it defrauded the U.S. government by concealing information about the 737 Max, the ill-fated jet model involved in two fatal crashes that killed 346 people.
The planemaker entered into a deferred prosecution agreement Thursday in the Northern District of Texas. In turn, the Justice Department will dismiss the charge against Boeing after three years if the company cooperates with the government, including by making current and former officials available to testify before a federal grand jury or in trials.