Defendant Name:
AAR CORP.
Defendant Type:
Public Company
SIC Code:
3724
CUSIP:
00036110
Document Reference:
34-101987
Document Details
Legal Case Name
In the Matter of AAR CORP.
Document Name
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order
Document Date
19-Dec-2024
Document Format
Administrative Proceeding
AAER
4550
Allegation Type
Foreign Corrupt Practices Act
Document Summary
On December 19, 2024, the SEC instituted settled cease-and-desist proceedings against AAR CORP., stating: "This matter concerns violations of the anti-bribery, books and records, and internal accounting controls provisions of the Foreign Corrupt Practices Act of 1977 (the “FCPA”) by AAR, a provider of aviation products and services, arising from two separate bribery schemes. One scheme was in connection with the sale of two Airbus A330 aircraft to Nepal Airlines Corporation (“Nepal Airlines”), a government-owned airline, and the second was in connection with the sale of aftermarket aviation services to SAA Technical (SOC) Ltd. (“South African Airways Technical”), a subsidiary of South African Airways (SOC) Ltd (“South African Airways”), a government-owned airline."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Self Reporting to SEC
Monetary Penalties:
Disgorgement
Individual:
$23,451,100.00
Shared:
Pre-Judgment Interest
Individual:
$5,785,524.00
Shared:
