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SAIC Agrees To Pay $500 Million To Settle Fraud Charge On NYC Contract

Defense Daily Staff Defense Daily Staff
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The federal government yesterday said that SAIC [SAI] has greed to pay $500.4 million in restitution and penalties as well as forgive more than $40 million still owed the company by New York City as part of an agreement to settle charges of fraud stemming from the company’s work on a workforce management system for the city. In a filing with the Securities and Exchange Commission yesterday, SAIC said it would take a $308.4 million charge for in its fourth…

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