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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

·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…

·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

·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…

·Idaho Falls, United States
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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…

·Colorado Springs, 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

Read Full Article
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