Boeing to pay $200mn to settle SEC probe on 737 Max crashes

The Securities and Exchange Commission (SEC) said Thursday Boeing would pay $200 million to settle charges for the misleading statements made after the deadly crashes of two 737 Max jetliners.

Dennis Muilenburg, the former CEO of the aerospace company, will pay $1 million for misleading investors regarding the jets’ safety after the fatal crashes in 2018 and 2019 killed 346 people.

In its statement, the SEC said Boeing was well aware of 737 Max’s safety issue after the first crash but misled the public, saying the plane was “as safe as any that has ever flown the skies.”

Both Boeing and Muilenburg neither confirmed nor denied the agency’s findings.