Three name changes not enough: 'Blackwater' to pay $50M in arms smuggling, other charges

Yes, a proud moment for the Bush/Cheney crowd:

The U.S. military contractor formerly known as Blackwater will pay $50 million to settle arms-smuggling and other charges, according to news reports.

The Moyock, N.C., company, now known as Academi after a previous name change to Xe, will pay a $7.5 million fine to the U.S. Justice Department, plus a $42 million settlement with the State Department, WITN-TV reports.

The charges include possessing automatic weapons in the United States without registration, lying to federal firearms regulators about weapons provided to the king of Jordan, passing secret plans for armored personnel carriers to Sweden and Denmark and illegally shipping body armor overseas.

The company has earned billions in federal funds for providing security and training to U.S. personnel.

via content.usatoday.com