|U.S. Accuses 4 of Bribery
||At Interconex, a secretary said Mr. Achuck and Mr. Stephens were out of the office.
The two former Raytheon executives also were charged in the sevencount indictment, which was returned here on Sept. 11 and made public yesterday.
The grand jury charged that the bribes were arranged for Interconex by Lionel W. Achuck, 41, the company's chairman, and Jon T. Stephens, 43, its president.
In Wilton, N.H., Mr. Lemier's wife said he was out of town and unreachable.
International Modular Systems was not charged.
|Press Release: SEC Settles With Raytheon Company, Former CEO, and Subsidiary Controller for Improper Disclosure and Accounting Practices; 2006-104; June 28, 2006
||"Today's announcement emphasizes that we will continue to pursue disclosures and accounting practices that mask the underlying economic realities of a public company.
The SEC also charged that certain of these disclosures and accounting practices were undertaken with the knowledge of Burnham in 2000 and 2001 and Servello in 2000.
According to the SEC's Order, given the charge that should have been taken at year-end 2000, Raytheon's third quarter 2001 commuter loss provision was overstated by 10 to 53 percent.
# # #ContactsLinda Chatman Thomsen, (202) 551-4894Director, SEC Division of EnforcementPeter Bresnan, (202) 551-4597Deputy Director, SEC Division of EnforcementTimothy England, (202) 551-4959Assistant Director, SEC Division of EnforcementAdditional materials: Administrative Proceeding No.
As part of the settlement, Raytheon consented to pay a penalty of $12 million and $1 in disgorgement.
|Former Raytheon chief settles SEC accusations
||Burnham served as chairman and chief executive of Raytheon for five years until he resigned in July 2003.
Dean Buntrock, former chief executive of Waste Management, agreed last August to pay $19.5 million, which included his bonus, to settle SEC claims.
Burnham is not the only chief executive facing a return of some of his bonus.
Raytheon, First Data and the SEC would not comment on the settlement.
NEW YORK — The former chief executive of Raytheon, Daniel Burnham, has agreed to pay a fine and return part of a $1.75 million bonus to settle Securities and Exchange Commission accusations over improper accounting practices in 2000 and 2001.
|Raytheon loses attempt to halt U.S. Air Force review of radar bids
||The Air Force initially told bidders such costs were not allowable, but later told Raytheon it could recover certain IR&D costs, which allowed it to lower its pricing.
The Air Force said the court's decision would allow it to "continue source selection and take corrective action.
Northrop spokesman Randy Belote welcomed the news and said his company was "looking to further direction from the Air Force on how the program will move forward.
Lockheed said it was pleased with the decision, and stood ready to support the Air Force on the program.
Raytheon first won the contract in October, but the matter was quickly protested by both losing bidders, prompting the Air Force to take a fresh look at the bids.