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Boeing to Pay $2.5bn to Resolve 737 MAX Criminal Probe in US

posted by Fnord666 on Friday January 08 2021, @08:24AM   Printer-friendly

upstart writes in with an IRC submission:

Boeing to pay $2.5bn to resolve 737 MAX criminal probe in US:

Boeing Co will pay over $2.5bn to resolve the United States Department of Justice (DOJ) investigation into two deadly 737 MAX crashes that killed 346 people, the DOJ said, but will not be forced to plead guilty to criminal charges.

The DOJ said the settlement includes a criminal monetary penalty of $243.6m, compensation payments to Boeing's 737 MAX airline customers of $1.77bn, and the establishment of a $500m crash-victim beneficiaries fund to compensate the heirs, relatives and legal beneficiaries of the passengers.

[...] Boeing admitted in court documents that two of its 737 MAX Flight Technical Pilots deceived the FAA about a key safety system tied to both fatal crashes called MCAS.

Boeing Chief Executive David Calhoun said in a statement the agreement "appropriately acknowledges how we fell short of our values and expectations."

The airline payment fund will include prior payments already made by the Boeing to airlines.

Original Submission

 
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  • (Score: 0) by Anonymous Coward on Friday January 08 2021, @02:54PM (4 children)

    by Anonymous Coward on Friday January 08 2021, @02:54PM (#1096989)

    if you're a corporate criminal.

  • (Score: 2) by DannyB on Friday January 08 2021, @03:38PM (2 children)

    by DannyB (5839) Subscriber Badge on Friday January 08 2021, @03:38PM (#1097002) Journal

    Crime does not actually pay.

    Rather, it gives bonuses and executive stock options with generous golden showers parachutes.

    --
    Young people won't believe you if you say you're older than Google. (born before 1998-09-03)

    • (Score: 2) by Grishnakh on Friday January 08 2021, @05:57PM (1 child)

      by Grishnakh (2831) on Friday January 08 2021, @05:57PM (#1097051)

      I'm pretty sure those things still count as "pay". Bonuses and stock options are compensation; it doesn't have to be a regular W-2 paycheck to qualify as "pay".

      • (Score: 2) by DannyB on Friday January 08 2021, @10:26PM

        by DannyB (5839) Subscriber Badge on Friday January 08 2021, @10:26PM (#1097171) Journal

        If it were 1099 income, I suppose that would still count as 'pay'.

        --
        Young people won't believe you if you say you're older than Google. (born before 1998-09-03)

  • (Score: 0) by Ethanol-fueled on Friday January 08 2021, @10:38PM

    by Ethanol-fueled (2792) on Friday January 08 2021, @10:38PM (#1097175) Homepage

    Or a vaccine manufacturer. The difference between Boeing and vaccine manufacturers is that Boeing occasionally has to face public accountability for killing people with reckless business decisions. Guess the money they saved using foreign coders would have been better-spent on lobbyists rather than executive bonuses.