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 Justice Department, plus a $42 million civil settlement with the State Department, WITN-TV reports. The company, which has provided security and training to U.S. personnel in Iraq and Afghanistan, agrees that it violated the Arms Export Control Act and the International Trafficking in Arms Regulations.

The deferred prosecution settles 17 violations, according to documents unsealed today in U.S. District Court, the Associated Press says. 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, which has its corporate headquarters in Arlington, Va., has earned billions in federal funding.

Two weeks ago, the Justice Department announced that it would bring a new indictment against four Blackwater Worldwide guards involved in a 2007 shooting that killed 17 Iraqis. A federal judge dismissed the case in 2009, but an appeals court reinstated the charges last year.