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Published 16 days ago

Lockheed Martin subsidiaries reach $70 million settlement for claims they overcharged Navy for parts

  • Two Lockheed Martin subsidiaries agreed to pay $70 million for overcharging the Navy for aircraft parts, as announced by the DOJ.
  • Sikorsky Support Services and Derco Aerospace entered an improper subcontract for spare parts, leading to excess charges for training Navy pilots.
  • Sikorsky bought parts from Derco at a marked-up price and then billed the Navy, violating regulations on cost arrangements, per prosecutors.
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The IndependentThe Independent

Lockheed Martin subsidiaries reach $70 million settlement for claims they overcharged Navy for parts

Two Lockheed Martin subsidiaries have agreed to pay the federal government $70 million for overcharging the Navy for aircraft parts

17 days ago·London, United Kingdom
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Associated Press NewsAssociated Press News

Lockheed Martin subsidiaries reach $70 million settlement for claims they overcharged Navy for parts

Two Lockheed Martin subsidiaries have agreed to pay the federal government $70 million for overcharging the Navy for aircraft parts. The U.S. Department of Justice says Sikorsky Support Services and Derco Aerospace knowingly entered into an improper subcontract for spare…

17 days ago·United States
Read Full Article
abc Newsabc News

Lockheed Martin subsidiaries reach $70 million settlement for claims they overcharged Navy for parts

Two Lockheed Martin subsidiaries have agreed to pay the federal government $70 million for overcharging the Navy for aircraft parts

17 days ago·United States
Read Full Article
KRDOKRDO

Lockheed Martin subsidiaries reach $70 million settlement for claims they overcharged Navy for parts

STRATFORD, Conn. (AP) — Two Lockheed Martin subsidiaries have agreed to pay the federal government $70 million for overcharging the Navy for aircraft parts. The U.S. Department of Justice says Sikorsky Support Services and Derco Aerospace knowingly entered into an improper subcontract for spare parts and materials for aircrafts used to train Navy pilots. Under the contract, Sikorsky, a Connecticut company, purchased parts from Derco, a Wisconsin…

17 days ago·Colorado Springs, United States
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KIFIKIFI

Lockheed Martin subsidiaries reach $70 million settlement for claims they overcharged Navy for parts

STRATFORD, Conn. (AP) — Two Lockheed Martin subsidiaries have agreed to pay the federal government $70 million for overcharging the Navy for aircraft parts. The U.S. Department of Justice says Sikorsky Support Services and Derco Aerospace knowingly entered into an improper subcontract for spare parts and materials for aircrafts used to train Navy pilots. Under the contract, Sikorsky, a Connecticut company, purchased parts from Derco, a Wisconsin…

17 days ago·Idaho Falls, United States
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The Washington PostThe Washington Post

Lockheed Martin subsidiaries reach $70 million settlement for claims they overcharged Navy for parts

Two Lockheed Martin subsidiaries have agreed to pay the federal government $70 million for overcharging the Navy for aircraft parts

17 days ago
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