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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2010/12/bae-fined-over-accounting-failure.jpg"><img class="alignnone size-full" title="BAE Systems has been fined for failing to keep proper records of payments in Tanzania" src="http://londonglossy.com/wp-content/uploads/2010/12/min-bae-fined-over-accounting-failure.jpg" alt="BAE Systems has been fined for failing to keep proper records of payments in Tanzania"/></a></p>
<p>Defence giant BAE Systems has been fined £500,000 for failing to keep proper records of payments to an adviser in the east African country of Tanzania.</p>
<p>Payments totalling about 12.4 million US dollars (£7.7 million) were made to two companies controlled by Tanzania-based businessman Shailesh Vithlani between January 2000 and December 2005, Southwark Crown Court has heard.</p>
<p>BAE pleaded guilty to one count of breaching its duty to keep accounting records contrary to section 221 of the Companies Act 1985 following a written settlement with the Serious Fraud Office on February 16.</p>
<p>The company was also ordered to pay £225,000 costs.</p>
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