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Lockheed Martin overcharged the US government by $265 million on the F-35 Joint Strike Fighter development programme, the company announced on 9 August.
The company is now in the process of reimbursing the funds to the government, although it was not immediately clear if the funds will be returned to the JSF programme office for reinvestment or go elsewhere.
“We are working with the government to determine the appropriate amount of interest” owed, according to a released company dossier.
Originally posted by carnival_of_souls2047
Ugh, this saddens me that big corporations still do stuff like that. They should know better. Shame on you, Lockheed.
Originally posted by crusader97
If the article is to be believed - it was discovered by an internal audit, not by any Federal oversight. I think it's actually pretty admirable that they have acknowledged that they made an error in the first place, and have plans to pay it back or reinvest it into the program. They certainly could have sat on it and never said anything...
The trouble “had to do with invoices connected with [JSF partners] Northrop Grumman and BAE Systems,” the spokesman said, adding that neither of Lockheed’s partners were not to blame for the error.