Ex-Embraer exec pleads guilty in Saudi bribes case | World Defense

Ex-Embraer exec pleads guilty in Saudi bribes case


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Nov 17, 2017
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Ex-Embraer exec pleads guilty in Saudi bribes case
By Arabian Business
25 December 2017

A former executive at Brazilian aircraft manufacturer Embraer pleaded guilty on Thursday for his role in bribing a Saudi official in the sale of three jets, the US Justice Department announced.

Colin Steven, a 61-year-old British national residing in the United Arab Emirates, admitted to charges of foreign bribery, wire fraud, money laundering and false statements over his role in the scheme, which occurred between 2009 and 2011.

Steven's guilty plea follows Embraer's $205 million settlement last year with US and Brazilian authorities over corruption in several countries, including Saudi Arabia.

In an unrelated development, Embraer announced Thursday it was in merger talks with the US giant Boeing but said no deal was guaranteed.

Prosecutors say Steven, a former executive in Embraer's executive jets division with responsibility for sales in the Middle East, agreed in 2009 to funnel bribes to an official of Saudi Arabia's state-owned oil company in return for help in securing the sale of three new jets to the company.