Which aerospace company admitted secret payments in the 1976 Lockheed bribery scandal?

Lockheed Corporation admitted making secret payments in the 1976 Lockheed bribery scandal.

The scandal involved millions of dollars in illicit payments to foreign officials and influential figures to help Lockheed secure aircraft contracts. Investigations in the United States revealed payments connected with sales efforts in countries including Japan, the Netherlands, and Italy.

The revelations became part of a wider 1970s examination of corporate bribery overseas. The U.S. Securities and Exchange Commission had begun investigating questionable payments by American companies, while Congress examined whether such practices damaged trust in business and government.

The scandal helped lead to the Foreign Corrupt Practices Act of 1977, which prohibited American companies from bribing foreign officials and required stronger accounting controls. Lockheed Corporation later became part of Lockheed Martin after a 1995 merger with Martin Marietta. The scandal is sometimes confused with later bribery cases involving other defense contractors, but Lockheed’s disclosures were an important catalyst for the modern U.S. anti-bribery framework.