US Military Paid $1.1 Trillion to Contractors That Defrauded the Government

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#1 Thu, Oct 20, 2011 - 10:21pm
steeled
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US Military Paid $1.1 Trillion to Contractors That Defrauded the Government

(not surprising, but still, isn't this "special")

US Military Paid $1.1 Trillion to Contractors That Defrauded the Government

Thursday 20 October 2011 by: Mike Ludwig, Truthout | Report

The Pentagon has paid $1.1 trillion to hundreds of defense contractors and their parent companies that have defrauded the government over the past ten years, according to a Department of Defense report released Thursday.

More than 300 contractors involved in civil and criminal fraud cases that resulted in judgments of $1 million or more during the last decade were paid a total of $573.7 billion by the US military, including $398 billion that was paid to contractors after judgments for fraud. When awards to parent companies are included, the Pentagon awarded $1.1 trillion to the top 37 companies that defrauded the US military since 2000........................................

( get this next part!)

.....Another $33 million was paid to 54 companies after they were convicted of criminal fraud against the government. Companies found guilty of criminal fraud received a total of $255 million during the ten-year period...............................................................................

.......The Department of Defense reported that it has sanctions in place and several contractual and administrative "remedies" are available to deal with contract fraud, but the report admits that "it is unclear, however, that these remedies are sufficient." The scope and size of contract oversight operations has increased during the past two years, according to the report, and the Pentagon plans to continue increasing its oversight workforce and capabilities.

(kinda like the "sanctions and remedies" for banks--a hand-slap at best)

read whole thing here

Edited by: steeled on Nov 8, 2014 - 5:03am

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