[Tree] Boeing, US Justice Department, 737 Max jetliners, plane crashes, criminal fraud, plea deal, crash victims

Version 0.5 (2024-07-03 08:55:00.132000)

updates: Families criticize plea deal, potential industry implications, credit rating concerns

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Version 0.49 (2024-07-03 06:16:14.380000)

updates: The U.S. Department of Justice is preparing to offer Boeing a plea deal to resolve a criminal charge of fraud following two fatal crashes of the manufacturer’s 737 Max jet. The plea deal would include a $244 million fine, a three-year probation, and an independent monitor appointed to oversee the company’s progress on safety and quality improvements. The victims’ families have objected to parts of the deal, feeling that it does not hold Boeing accountable for the crashes. The 2021 deferred prosecution agreement expired in January, and in May, the Justice Department determined that Boeing had violated the terms of the agreement, allowing federal prosecutors to once again pursue criminal charges. Boeing has until the end of the week to accept the deal. If accepted, the deal would require Boeing to admit to defrauding safety regulators but does not link Boeing’s actions to the deaths. The families of the victims are prepared to file an objection to the deal.

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Version 0.48 (2024-07-01 11:38:50.473000)

updates: Criticism from crash victims' families over proposed plea deal

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Version 0.47 (2024-07-01 10:55:29.409000)

updates: The US Justice Department plans to criminally charge Boeing for its role in the two fatal crashes involving its 737 Max jetliners in 2018 and 2019. Prosecutors have offered Boeing a plea agreement, giving the company until the end of the week to decide whether to plead guilty or go to trial. If Boeing accepts the plea offer, it would be required to pay an additional criminal fine of $243.6 million on top of the $243.6 million already paid as part of a 2021 deferred-prosecution agreement. This would bring the total fine close to $500 million. The plea offer also includes the appointment of an independent monitor to oversee Boeing's compliance with anti-fraud laws for three years. The Justice Department alleges that Boeing violated the 2021 deferred-prosecution agreement by failing to implement an effective compliance program to prevent and detect violations of U.S. fraud laws. The proposed plea deal also includes a $487.2 million financial penalty, restitution, and three years of probation for Boeing. If Boeing refuses to plead guilty, the Justice Department plans to take the company to trial. A guilty plea could have implications for Boeing's ability to enter into government contracts. Victims' relatives expressed anger at the proposed plea deal, viewing it as failing to hold Boeing accountable for the fatal crashes. [34b19ff0] [d2ae44df] [63ccbcf2]

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Version 0.46 (2024-07-01 05:38:01.014000)

updates: Boeing facing criminal fraud charges and plea offer from US Justice Department

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Version 0.45 (2024-07-01 05:37:15.747000)

updates: The Justice Department is pushing Boeing to plead guilty over its involvement in airplane crashes in Indonesia in 2018 and Ethiopia in 2019 that killed 346 people. Under the deal, the company would plead guilty to one count of fraud, submit to oversight by an independent monitor for three years, and pay additional financial penalties or face trial. The deal includes just over $487 million in penalties, although Boeing would only have to pay half because it is receiving credit for payments it made as part of a previous agreement. The agreement drew angry responses and objections from the families of crash victims, who were briefed on Sunday during a two-hour call. Last week, federal prosecutors recommended to senior Justice Department officials that Boeing face criminal charges for failing to meet the terms of a January 2021 agreement that would have shielded it from prosecution in connection with those fatal crashes. In May, prosecutors announced Boeing had breached the terms of that 2021 deal, raising the possibility the department would resume its prosecution on a single charge of conspiracy to defraud the government. Boeing, in a letter sent to the Justice Department in late June, maintained that it has met the conditions of the agreement. The three-year deferred prosecution deal expired just two days after a door panel of an Alaska Airlines 737 jet blew out in midflight in January, which triggered another criminal investigation. Family members of crash victims were shocked and angered by prosecutors’ decision to allow Boeing to avoid criminal prosecution. Relatives contend that had it not been for the dramatic blowout aboard the California-bound Alaska Airlines flight in January, Boeing likely would have avoided further scrutiny. [40b649fc]

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Version 0.44 (2024-07-01 03:53:33.105000)

updates: US prosecutors urge Boeing to plead guilty to fraud

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Version 0.43 (2024-07-01 02:57:48.023000)

updates: US government offers Boeing 'sweetheart deal' in plea agreement

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Version 0.42 (2024-07-01 02:57:13.273000)

updates: The US Justice Department plans to propose that Boeing plead guilty to fraud in connection with the two deadly plane crashes involving its 737 Max jetliners. Boeing will have until the end of the coming week to accept or reject the offer, which includes the company agreeing to an independent monitor who would oversee its compliance with anti-fraud laws. The Justice Department informed the families of some of the crash victims about the plea offer during a video meeting. If Boeing rejects the plea offer, the Justice Department would seek a trial. A conviction could jeopardize Boeing's status as a federal contractor, as the company has significant contracts with the Pentagon and NASA. [34bb3aae] The U.S. Department of Justice (DOJ) will charge Boeing with fraud for violating a deferred prosecution agreement signed in 2021. The DOJ will offer Boeing the option to accept a plea deal or face trial. The plea agreement includes a fine, a three-year probation period, and supervision by a corporate monitor. Lawyers representing the families of the crash victims criticize the plea agreement, calling it a 'sweetheart deal' for Boeing. The crashes in question are the Lion Air Flight 610 and Ethiopian Airlines Flight 302 accidents that exposed defects in the 737 MAX flight control software. The 2021 agreement allowed Boeing to avoid criminal charges in exchange for a fine and a commitment to improve its compliance program. However, a new incident in January revealed severe flaws in the aircraft's manufacturing and quality controls, leading the DOJ to conclude that Boeing had failed to comply with the agreement. The DOJ is considering filing new charges or entering into a new deal with the company. [4cbf1e05]

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Version 0.41 (2024-07-01 02:19:15.461000)

updates: US Justice Department proposes that Boeing plead guilty to fraud

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Version 0.4 (2024-06-30 23:56:24.306000)

updates: US Department of Justice offers Boeing a plea deal

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Version 0.39 (2024-06-30 23:54:09.587000)

updates: US prosecutors considering criminal charges against Boeing US Department of Justice considering independent supervision Justice Department plans to allow Boeing to plead guilty to fraud charge Families of crash victims find plea deal 'outrageous' Boeing facing potential criminal charges for violating deferred prosecution agreement Boeing paid $244 million fine as part of 2021 settlement Justice Department pushing Boeing to plead guilty to criminal fraud Plea deal would include an independent monitor Victims' families plan to oppose the plea deal in court Federal agencies may give waivers to Boeing to keep them eligible for government contracts Justice Department not moving to prosecute current or former Boeing executives Plea deal might not impact other investigations into Boeing [e4d9077e]

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Version 0.38 (2024-06-30 22:55:49.663000)

updates: The Justice Department plans to allow Boeing to avoid a criminal trial if it agrees to plead guilty to a fraud charge stemming from two fatal crashes of its 737 Max more than five years ago. The terms include a nearly $244 million fine, a new investment in safety improvements, three years of scrutiny from an external monitor, and a meeting between Boeing’s board and the victims’ families. The families of the crash victims find the deal to be 'outrageous' and believe it falls far short of what they had sought. The offer does not force Boeing to admit fault in the deaths of the 346 people who died in the crashes in Indonesia and Ethiopia in late 2018 and early 2019.

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Version 0.37 (2024-06-30 13:54:48.472000)

updates: Updates on US prosecutors considering criminal charges against Boeing

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Version 0.36 (2024-06-30 04:55:12.588000)

updates: Mixed feelings among Indonesian crash victims' families as US prosecutors consider criminal charges against Boeing

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Version 0.35 (2024-06-29 10:57:35.656000)

updates: Updated with analysis on the implications of criminal charges against Boeing

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Version 0.34 (2024-06-27 16:56:27.356000)

updates: NTSB sanctions Boeing for discussing probe publicly

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Version 0.33 (2024-06-27 07:25:21.030000)

updates: The NTSB sanctions Boeing for unauthorized disclosure of 737 MAX information

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Version 0.32 (2024-06-24 14:00:26.093000)

updates: Added information about major catalysts for Boeing stock

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Version 0.31 (2024-06-24 01:55:07.748000)

updates: The US Department of Justice is considering an alternative approach to criminal charges, potentially opting for independent supervision for Boeing. Boeing's CEO apologized to the victims' families. The prosecutors' recommendation has not been previously reported.

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Version 0.3 (2024-06-24 01:53:27.483000)

updates: US prosecutors recommend criminal charges against Boeing for violating settlement

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Version 0.29 (2024-06-24 00:12:13.329000)

updates: US prosecutors recommend criminal charges against Boeing for violating settlement related to fatal crashes

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Version 0.28 (2024-06-24 00:12:01.704000)

updates: Prosecutors recommend criminal charges against Boeing for violating settlement

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Version 0.27 (2024-06-24 00:11:38.781000)

updates: US prosecutors recommend criminal charges against Boeing

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Version 0.26 (2024-06-22 03:57:39.328000)

updates: The US Department of Justice plans to offer Boeing a deferred prosecution agreement with an independent supervisor

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Version 0.25 (2024-06-21 22:56:48.258000)

updates: The US Department of Justice is considering an independent oversight for Boeing instead of pursuing criminal charges

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Version 0.24 (2024-06-20 15:31:21.597000)

updates: Increased the fine amount to $25 billion

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Version 0.23 (2024-06-19 21:37:52.859000)

updates: Updated fine amount, additional details on the families' demands

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Version 0.22 (2024-06-19 21:37:17.267000)

updates: Families seek $24 billion fine from DOJ for Boeing Max crashes

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Version 0.21 (2024-06-13 01:54:20.325000)

updates: Boeing's response to DOJ's determination

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Version 0.2 (2024-06-02 06:53:03.474000)

updates: Boeing executives unlikely to face criminal charges

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Version 0.19 (2024-06-01 22:53:26.818000)

updates: Boeing executives unlikely to face criminal charges

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Version 0.18 (2024-06-01 00:41:03.696000)

updates: The families of the victims are pushing for criminal prosecution of Boeing

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Version 0.17 (2024-06-01 00:40:52.069000)

updates: Families seeking criminal prosecution of Boeing; DOJ determined Boeing violated settlement; Families express disappointment with DOJ meeting; Boeing facing economic challenges; FAA opens investigation into Boeing jets; DOJ's determination raises questions about Boeing's future; Criminal prosecution of senior executives unlikely; Boeing has until June 13 to respond to allegation of violating settlement

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Version 0.16 (2024-06-01 00:40:38.407000)

updates: The families of the crash victims are pushing for the company to be prosecuted no later than this fall. The families have expressed disappointment and frustration after meeting with federal prosecutors for five hours and receiving very few answers to their questions. The DOJ's determination adds to the scrutiny of Boeing, which has faced multiple investigations and complaints about manufacturing problems and whistleblowers. The DOJ's determination also raises questions about the future of Boeing and its ability to recover from the crisis. Legal experts believe that criminal prosecution of senior executives is unlikely. Boeing has until June 13 to respond to the allegation that it violated the deferred prosecution agreement. The DOJ will inform the judge of its decision regarding Boeing no later than July 7.

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Version 0.15 (2024-06-01 00:40:23.459000)

updates: Families urge DOJ to prosecute Boeing for crashes

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Version 0.14 (2024-05-15 21:51:49.037000)

updates: Details on the DOJ's determination and the families' disappointment

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Version 0.13 (2024-05-15 19:53:21.357000)

updates: DOJ determines Boeing can be prosecuted for violating settlement

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Version 0.12 (2024-05-15 08:41:16.308000)

updates: The US Justice Department accuses Boeing of breaching the 2021 737 MAX criminal prosecution deal

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Version 0.11 (2024-05-15 00:53:42.080000)

updates: Boeing can be prosecuted for 737 MAX crashes

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Version 0.1 (2024-05-14 23:56:50.174000)

updates: US Justice Department accuses Boeing of breaching 2021 737 MAX criminal prosecution deal

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Version 0.09 (2024-05-14 11:32:04.026000)

updates: Boeing whistleblowers raise serious issues, additional whistleblowers come forward

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Version 0.08 (2024-05-14 11:31:47.647000)

updates: Add information about Boeing whistleblowers

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Version 0.07 (2024-04-25 18:00:03.578000)

updates: Updates on families seeking answers from DOJ

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Version 0.06 (2024-04-24 23:49:13.347000)

updates: Families accuse Boeing of safety negligence as company reports losses

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Version 0.05 (2024-04-18 07:49:51.207000)

updates: Settlement negotiations with Larry Nassar victims

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Version 0.04 (2024-04-05 06:22:08.163000)

updates: The US Justice Department has scheduled a meeting with lawyers representing the families of victims of two fatal Boeing 737 MAX crashes that occurred in 2018 and 2019, resulting in the deaths of 346 individuals. The meeting, which took place on Tuesday afternoon, is part of the government's decision-making process regarding a potential criminal case against Boeing. This meeting precedes another gathering on April 24, where the victims' families themselves will have the opportunity to confer with Justice Department officials. The Justice Department is assessing whether Boeing has complied with the terms of a 2021 agreement that granted the company immunity from criminal prosecution in exchange for a $2.5 billion payment related to a fraud conspiracy charge stemming from the flawed design of the 737 MAX. The investigation will focus on whether Boeing violated the conditions outlined in the 2021 agreement, which included strengthening its compliance program.

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Version 0.03 (2024-04-04 20:24:48.812000)

updates: US Justice Department to meet with lawyers of Boeing crash victims

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Version 0.02 (2024-03-29 22:21:17.617000)

updates: Add information about the Texas AG probe into Boeing DEI practices

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Version 0.01 (2023-11-16 00:39:36.841000)

updates: US Justice Department's involvement in the aviation industry scandal

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Version 0.0 (2023-11-16 00:37:45.067000)

updates:

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