Tuesday, March 27, 2007

ITT Pleads

A DOJ Press Release reports that ITT Corporation "the leading manufacturer of military night vision equipment for the U.S. Armed Forces, has admitted sending classified materials overseas and will pay a $100 million penalty." The release states that "ITT Corporation will also be the first major defense contractor convicted of a criminal violation of the Arms Export Control Act."  The release states:

"As part of the $100 million penalty, ITT Corporation will pay a $2 million criminal fine, a $50 million deferred prosecution penalty, and will forfeit $28 million to the United States as the proceeds of its illegal actions. ITT Corporation will also pay a $20 million monetary penalty to the Department of State."

The plea agreement actually speaks to collateral consequences, although offering little relief to the company.  It states:

"ITT acknowledges that nothing in this plea agreement limits the rights of any department or agency of the United States government to seek and take civil or administrative action against ITT, including but not limited to any action relating to suspension, debarment or listing."



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