From CNBC: 2024-07-08 17:05:21

Boeing has agreed to plead guilty to criminal fraud related to 737 Max crashes, facing a potential fine of up to $487.2 million, which may be reduced to $243.6 million. The plea deal could impact Boeing’s ability to sell to the U.S. government, with 32% of last year’s revenue coming from defense contracts.

The U.S. accused Boeing of misleading regulators about a flight-control system on the Max linked to crashes in 2018 and 2019, resulting in 346 fatalities. Prosecutors plan to seek a guilty plea from Boeing, sparking opposition from victims’ family members who aim for a public trial to hold Boeing accountable for the fatalities.

Boeing also must invest $455 million in compliance and safety programs, include an independent monitor to oversee compliance for three years, and allow the board to meet with crash victims’ family members. Family attorneys argue the deal offers concessions to Boeing and fails to properly hold the company accountable for the deaths.



Read more at CNBC: Boeing to plead guilty to criminal fraud charge stemming from 737 Max crashes