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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Kyle Brasseur2023-11-07T22:00:00
GE Aerospace, an operating division of General Electric providing aircraft engines, systems, and avionics, agreed to pay more than $9.4 million as part of a settlement with the Department of Justice (DOJ) addressing allegations the company sold parts to the U.S. military without proper inspections or specifications.
GE Aerospace admitted one of its Massachusetts-based manufacturing plants occasionally “did not conduct required parts inspections and sold engines containing parts that did not meet certain required specifications to U.S. miliary customers,” the DOJ said in a press release Monday.
The activities by the plant, which occurred between July 2012 and December 2019, violated the False Claims Act, the agency stated.
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News and analysis for the well-informed compliance or audit exec. Select an option and click continue.
Annual Membership $499 Value offer
Full price one year membership with auto-renewal.
Membership $599
One-year only, no auto-renewal.
2024-01-18T18:41:00Z By Kyle Brasseur
An opinion in a long-running court case involving software company Gen Digital and alleged violations of the False Claims Act saw proposed costs in the matter jump from $1.3 million to approximately $53 million following successful arguments by the U.S. government.
2023-10-02T17:20:00Z By Jeff Dale
Multinational health insurance company Cigna agreed to pay more than $172 million as part of a settlement with the Department of Justice addressing allegations it submitted and failed to withdraw false claims to Medicare.
2023-09-29T14:41:00Z By Kyle Brasseur
Aerospace giant Boeing agreed to pay $8.1 million as part of a settlement with the Department of Justice addressing allegations it submitted false claims regarding military aircraft contracts it had with the Navy.
2024-11-20T18:15:00Z By Aaron Nicodemus
A bank examiner and senior manager at the Federal Reserve Bank of Richmond pled guilty to insider trading after allegedly misappropriating confidential information on seven banks to make profitable trades.
2024-11-19T21:05:00Z
New York-based investment firm Drexel Hamilton will pay more than $1.1 million in penalties, with four current and former employees paying fines as well over committing hundreds of violations of rules regarding the sale of municipal bonds.
2024-11-19T19:26:00Z By Aaron Nicodemus
A publicly traded cryptocurrency mining company will pay $10 million and completely change its business model to one with “lower corruption risk” as part of a settlement over violations of the Foreign Corrupt Practices Act (FCPA), two regulators announced.
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