Boeing will plead guilty to criminal fraud over 737 Max crashes, justice department says

finance
Created 7/8/2024
Updated 7/8/2024

Boeing will plead guilty to criminal fraud over the two fatal 737 Max crashes that killed 346 people, after breaching a three-year agreement protecting it from prosecution. The deal includes a USD243.6 million fine and a commitment to invest USD455 million in safety and compliance over the next three years, with a third-party monitor overseeing the progress. This plea deal, pending judicial approval, could jeopardize Boeing's ability to secure government contracts but avoids a potentially damaging public trial. The deal only covers pre-crash misconduct and does not protect current or former officials. The judge may accept or reject the plea, potentially leading to further negotiations.

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