Defense Contractor To Pay $2M To Resolve Overcharge Claims

Law360, New York (September 17, 2013, 4:12 PM EDT) -- Defense and security contractor the Macalan Group Inc. agreed Monday to pay nearly $2.1 million to resolve civil claims by the U.S. Department of Justice that it had overcharged the government on a contract to root out improvised explosive devices in Iraq and Afghanistan.

The Colorado Springs, Colo.-based firm agreed to pay some $2.08 million to the government and also give up a pending invoice of more than $700,000 to resolve claims that it had submitted false payment invoices for equipment leasing fees, according to a...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.