U.S. charges 22 with bribery in arms sting

Smith Wesson 3 U.S. charges 22 with bribery in arms sting

WASHINGTON, Jan 19 (Reuters) – An executive of Smith & Wesson (SWHC.O) and 21 others have been charged with violating U.S. bribery laws after an undercover sting in which federal agents posed as arms-buying representatives of an African defense minister.

The defendants, including a senior Smith & Wesson sales official Amaro Goncalves, were accused of violating the Foreign Corrupt Practices Act, or FCPA, and conspiracy to commit money laundering tied to the sale of guns, body armor and other law enforcement equipment.

The FCPA prohibits the payment of bribes to foreign officials in order to secure business contracts.

via UPDATE 3-U.S. charges 22 with bribery in arms sting | Reuters.

Wow, this is a huge deal, and one that apparently got started under the Bush Administration, so mad props to them for getting the ball rolling

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