Ethics Newsline®

LONDON
Prosecutors in Switzerland are investigating corruption allegations involving the British aerospace company BAE Systems PLC.

According to a report from the Associated Press, Swiss officials say the investigation involves suspicions of money laundering. The firm did not have any immediate comment.

Revelation of the Swiss probe was the latest bombshell to rock the firm, as protestors outside the company’s annual meeting last week demanded that executives reopen a probe into allegations that BAE bribed Saudi Arabian officials in return for lucrative contracts, the U.K. Guardian reports. BAE has denied the allegations.

That probe was halted after the British government said that further scrutiny would endanger national security.

Shareholders inside the meeting repeatedly interrupted BAE chairman Dick Oliver, reports the London Telegraph, peppering him with questions and protests about the arms trade in general and allegations that that the firm was involved in corrupt practices in several nations, including South Africa.

According to an analysis from the London-based Independent, the furor may hamper BAE’s efforts to expand operations in the United States, noting that Congress has taken an increased interest in the firm’s operations.