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.
FILE - A man walks past a Lockheed Martin logo as he walks through a section of the company’s chalet bridging a road at Farnborough International Airshow in Farnborough, southern England, July 19, 2006. 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 announced Friday, June 21, 2024. FILE - The Justice Department seal is seen, Nov. 18, 2022, in Washington.
Under the contract, Sikorsky purchased the parts from Derco at the cost Derco paid other suppliers, plus a 32% markup. “Today’s settlement demonstrates that the Justice Department will ensure that government contractors do not skirt the law and engage in self-dealing that may artificially inflate their charges at the expense of the American taxpayers,” Brian Boynton, head of the DOJ’s civil division, said in a statement.
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