$334B in DOD contracting fraud

      The Defense Dept. spent $334 billion on awards to 168 fraudulent contractors over the last five years, according to a new report to Congress on defense fraud.

      Three-quarters of that amount was related to two large defense firms. The companies were not named in the section of the report recently released to the public.

      During the same five years, there were 1,059 criminal convictions, with a total of $792 million recovered through fines, restitution and property forfeitures and $1.5 billion recovered due to contract terminations and de-obligations following conviction.

      An additional $5.9 billion was recovered through civil judgments and settlements.

      Nine contractors convicted of criminal fraud were debarred or suspended from federal contracting:

1. Advanced Solutions for Tomorrow
2. B&J Multi Service Corporation
3. Matthews Manufacturing Inc.
4. Nova Datacom LLC
5. NP Precision Inc.
6. Quantell Inc.
7. Tab Construction Company Inc.
8. Megabite Electronics Inc.
9. Skedco Inc.

More Information:
DoD FY 2018 report on contracting fraud: https://fas.org/man/eprint/contract-fraud.pdf

SBA proposes WOSB cert. rule; Wong says certification staff workload may increase 6-fold

8(a) owners allowed $750K

$334B in DOD contracting fraud

Shutdown hit small biz hard

GSA to host FAST in 2020

SBIR/STTR data rights changing

Column: Corporate Transactions and Affiliation Pitfalls

Washington Insider: