Defense Contractor to Pay $6 Million to Settle Fraud Suit

[her209]

http://www.theledger.com/article/20130709/NEWS/130709463

This is just one case of many where the federal government is defrauded when it comes to defense spending. Time to cut all funding to ZERO dollars?

 

[PokerGuy]

http://www.theledger.com/article/20130709/NEWS/130709463

This is just one case of many where the federal government is defrauded when it comes to defense spending. Time to cut all funding to ZERO dollars?

The federal government gets defrauded in just about every area, not just defense spending. The lesson to be learned is that much more oversight and control is needed with regards to the spending of taxpayer dollars, and that those who are caught defrauding need to pay a much steeper price.

 

[KB]

This is par for the course in the Defense industry. They need to recoup all of their kickbacks. The company in question is SAIC and they have been in trouble often. Their philosophy is just like the banks. Commit fraud, make millions and if you get discovered settle for a small fee. Its considered a cost of doing business.

http://blogs.villagevoice.com/runninscared/2012/03/citytime_fiasco_1.php

Not to single out SAIC, but many companies do this, Haliburton, Barclays, Bank of America. This is why its good to be a shareholder. You get to share in the plundered millions.