Defendant Name: AAR CORP.

Defendant Type: Public Company

Document Reference: 2024-205

Document Details

Legal Case Name In the Matter of AAR CORP.
Document Name Global Aerospace Company AAR and Former Executive of its Subsidiary Settle Charges for Bribing Nepalese and South African Officials
Document Date 19-Dec-2024
Document Format Administrative Proceeding
File Number 3-22369
Allegation Type Foreign Corrupt Practices Act
Document Summary On December 19, 2024, the SEC "today announced that Illinois-based AAR CORP., a global provider of aviation services and products, agreed to resolve Foreign Corrupt Practices Act (FCPA) charges in connection with two bribery schemes. AAR agreed to pay approximately $30 million to settle the SEC’s charges."

Disgorgement & Penalty Information

Resolutions
None Specified
Monetary Penalties:

Disgorgement

Individual:     $29,236,624.00 Shared:    

Pre-Judgment Interest

(Penalty was noted in document, but no amount was listed)

Related Documents:

34-101987 19-Dec-2024 Administrative Proceeding
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
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."

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