Lockheed Martin Corp (LMT)

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LMT accused of fraud by Justice Department. The lawsuit alleges that Lockheed Martin Corporation (LMC) and Lockheed Martin Services Inc. (LMSI) paid more than $1 million to executives of MSA – which was conveniently co-owned by another Lockheed subsidiary at the time – in order to secure a $232 million subcontract to provide management and technology support at the Washington state nuclear site from 2010-2016.

The services were provided at “inflated rates” and in some cases the DOE was even billed twice, by both MSA and Lockheed, for the same work. In addition, the suit accuses Jorge Francisco Armijo, who served as both the Vice President of LMC and President of MSA, of abusing his authority for financial gain by his simultaneously held posts.

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