Blackwater Founder Walks Away From $1.2B Fraud Suit

Law360, New York (June 24, 2011, 4:35 PM EDT) -- A Virginia federal judge on Thursday dismissed the owner of Xe Services LLC, formerly known as Blackwater Worldwide, from a suit brought by former employees claiming the contractor overbilled the U.S. for security services after Hurricane Katrina under a $1.2 billion overseas contract.

U.S. District Judge T.S. Ellis had already granted summary judgment to Xe and fellow defendants Blackwater Security Consulting LLC, Greystone Ltd. and Prince Group on all allegations. Prior to Thursday's order, only Xe owner Erik Prince and another of his companies, U.S. Training...
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