US EditionPentagon Faces Scrutiny over Billions in Confirmed Fraud, 7 Consecutive Failed Audits
- The Government Accountability Agency published a report on Wednesday revealing nearly $11 billion in confirmed fraud against the Department of Defense between 2017 and 2024.
- The report accompanied Seto Bagoyen’s testimony before the House Oversight Committee, which highlighted slow DOD progress in implementing anti-fraud recommendations amid systemic vulnerabilities.
- The report detailed multiple fraud cases, including $48 million lost to overpriced parts that grounded 47 F-15 fighter jets and $200 million defrauded by contractors misrepresenting ownership to win contracts.
- Retired Admiral Robert Burke was found guilty of bribery for attempting to secure contracts in return for a $500,000 annual position and 100,000 stock options after leaving the Navy, as detailed by federal prosecutors.
- Bagoyen warned that fraudsters remain ahead in many programs, and even a small percentage of DOD’s $1 trillion annual spending lost to fraud significantly diverts resources from the warfighting mission.
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20 Articles
The Daily Caller
Conservative Daily NewsFraudsters Have Bilked Billions From Pentagon — And It Could Be Way More, Watchdog Warns
Swindlers in the defense industrial complex have bilked the Pentagon out of billions of dollars, and that figure may just be scratching the surface.
Fraudsters Have Bilked Billions From Pentagon And It Could Be Way More, GAO Warns
Swindlers in the defense industrial complex have ripped off the Pentagon to the tune of billions of dollars in recent years, but that figure may just be scratching the surface, according to a Government Accountability Agency (GAO) report published Wednesday. The report revealed that the Department of Defense (DOD) had been defrauded of nearly $11 billion between […] Fraudsters Have Bilked Billions From Pentagon And It Could Be Way More, GAO Warns
Lunch Wrap: ASX creeps lower as IperionX lands Pentagon payday
ASX creeps lower despite miners lifting Lynas pops 8pc on China rare earths squeeze IperionX lands $152m Pentagon titanium deal The ASX inched lower by 0.1% at lunch time AEST on Thursday. Miners such as Fortescue (ASX:FMG), which was up by 1%, did the heavy lifting. And Lynas (ASX:LYC) went ballistic, up 10%, after a bit of good news for the rare earths space. Turns out some of Europe’s biggest carmakers are starting to feel the pinch from Ch…
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