Airbusted

If you’re one of those cynical people who assumes that multinational corporations are deeply corrupt and only concerned with achieving global domination no matter the cost, then this episode is for you. Caleb and Greg discuss a case of international bribery, the likes of which the world had never seen.

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• (00:00) - Welcome to Oh My Fraud
• (02:34) - Airbus and the Watergate Connection
• (11:02) - The Birth of Airbus and Its Rise
• (13:51) - Airbus Self-Reports Bribery Scandal
• (18:24) - The Mechanics of Airbus Bribery
• (20:22) - Deferred Prosecution and Bribery ROI
• (22:38) - Airbus Bribery Scandals Unveiled
• (25:59) - Airbus' Self-Reporting and Consequences
• (27:36) - The Global Investigation and Fines
• (31:27) - Bribery vs. Marketing: A Blurred Line
• (41:49) - The Largest Bribery Case in History
• (42:49) - Closing Thoughts and Where to Find Us

In less than 10 minutes, you can earn 1 hour of NASBA-approved accounting CPE after listening to this episode. Download our mobile app, sign up, and look for the Oh My Fraud channel. Register for the course, complete a short quiz, and get your CPE certificate.

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CONNECT WITH THE HOSTS

Greg Kyte, CPA
Twitter: https://twitter.com/gregkyte
LinkedIn: https://www.linkedin.com/in/gregkyte/

Caleb Newquist
Twitter: https://twitter.com/cnewquist
LinkedIn: https://www.linkedin.com/in/calebnewquist/

Email us at [email protected]

Sources:

• How the Foreign Corrupt Practices Act Came to Be — Corporate Compliance Insights 
• Early days (1967) — Airbus 
• History of Airbus S.A.S. — Britannica 
• Airbus to pay record £3bn in fines for 'endemic' corruption — The Guardian
• Airbus to Pay $4 Billion to Settle Corruption Inquiry — NYT 
• Airbus to pay SFO €1bn in corruption settlement — BBC
• Airbus enters into a coordinated resolution of foreign bribery investigation with US UK and French authorities for a total of 36 billion - Mondaq 
• Airbus Agrees to Pay over $3.9 Billion in Global Penalties to Resolve Foreign Bribery and ITAR Case — DOJ 
• Four Years and Almost $4 Billion: Airbus Corruption Investigations End with Sky-High Fine — Ropes & Gray LLC