Global Aerospace Company AAR and Former Executive of its Subsidiary Settle Charges for Bribing Nepalese and South African Officials

The Securities and Exchange Commission 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. Deepak Sharma, a former executive of a wholly owned AAR subsidiary, also settled SEC charges related to the same bribery schemes. According to the SEC’s order, from 2015 through 2018, Deepak Sharma, who at the time was President of International Supply Chain of an AAR subsidiary, orchestrated and implemented a bribery scheme to win a contract for the sale of two Airbus A330 aircraft, valued at approximately $210 million, to Nepal Airlines, a government-owned airline.