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Arms deal: Ferrostaal admits to bribery, free of prosecution

26 Aug 2011

Germany company, Ferrostaal - which admitted paying bribes to secure part of South Africa's 1999 R60 billion arms deal - has been let off the hook after the Hawks stopped investigating "questionable and improper" payments according to an article published in The Citizen.

It says that an investigation by an American law firm had uncovered how Ferrostaal made payments worth "hundreds of millions" to people in South Africa. Last year Ferrostaal's chairman was arrested for alleged corruption.

The Democratic Alliance's Shadow Minister of Defence, David Maynier has expressed disappointment at the decision.

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