Boeing Has No Idea Who Is Buying Their Satellites. Or Do They?

Boeing Was Going to Build Satellites for a China-Funded Firm. Why It Just Backed Out of the Deal, Fortune

"Boeing has canceled a deal to build a communications satellite -- which it has almost completed -- on the basis that the startup that ordered it has defaulted on payments. The sudden cancellation, however, comes on the heels of a report that detailed how the project was actually financed by a firm owned by the Chinese government. The Wall Street Journal exposed the situation earlier this week. The startup that ordered the satellite is called Global IP, and it wanted to use it for African Internet access. However, the deal was financed by an outfit called China Orient Asset Management, which is owned by the Chinese finance ministry and bankrolls military technology suppliers in the country. According to that report, some national security officials suspected Boeing was trying to bypass a ban on selling satellites directly to China. The ban is in place because of fears over the Chinese military gaining access to sensitive technology."

Keith's note: And Boeing only discovered the Chinese financing of this satellite in the past few days when the Wall Street Journal figured it out? Really Boeing?

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