Boeing (NYSE:BA) will plead guilty to criminal fraud conspiracy in an agreement with the Justice Department, branding the aviation giant as a corporate felon.

This plea deal aims to address significant legal issues as Boeing seeks to reassure customers and investors about its efforts to manage ongoing problems.

The charge, outlined by U.S. prosecutors in a court document on Sunday, pertains to Boeing's actions that misled FAA regulators before two fatal 737 MAX crashes at the end of the last decade.

As part of the agreement, Boeing will face fines of up to $487.2 million, although a judge will determine the final amount.

The Justice Department has recommended that Boeing be credited for fines already paid, potentially reducing the new amount to $243.6 million.

In addition to the fines, Boeing will operate under a corporate monitor for the next three years and allocate $455 million to enhance its compliance and safety measures. 

Boeing confirmed the agreement in a statement, saying, “We can confirm that we have reached an agreement in principle on terms of a resolution with the Justice Department, subject to the memorialization and approval of specific terms.”