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RTX pays Taiwan back over arms price gouging
The Ministry of National Defense (MND) says it has received a payment of NT$5.2 billion from American defense contractor, RTX after it was found to have engaged in price gouging, with Taiwan and other buyers.
According to the ministry, the payment was received after RTX reached a settlement in October with the US government following an investigation by the US Department of Justice into price gouging in foreign military sales. A press statement released by the US Department of Justice last month said RTX would pay over NT$950 million dollars to resolve federal charges it defrauded the Department of Defense into overpaying for defense systems and bribed an official in Qatar to secure business from the Middle East country's air force.
The impacted countries were unnamed at the time of the press release. However, it has since been revealed that Taiwan was one of the affected buyers and was overcharged for a radar system in 2013, and the Patriot missile system in 2017.
