Lockheed Martin has agreed to pay approximately $40 million to the U.S. Department of Defense to settle allegations that it provided false information to secure larger contracts for its F-35 fighter jets, federal officials say.
The aerospace giant inflated pricing proposals over a two-year period, misrepresenting the cost of parts used in the F-35 program. Because Lockheed is the sole manufacturer of the jet, it is required to fully disclose its pricing and cost estimates.
The case came to light after a whistleblower lawsuit was filed in East Texas, prompting federal authorities to launch a civil complaint to recover the funds.
This settlement underscores the government’s commitment to holding defense contractors accountable. Like a mechanic overcharging for car repairs, inflating costs in military contracts can lead to unnecessary taxpayer expenses. Officials emphasized that transparency in defense spending is crucial, especially when dealing with high-cost programs like the F-35.
LISTEN on the Audacy App
Tell your Smart Speaker to "PLAY 1080 KRLD"
Sign Up to receive our KRLD Insider Newsletter for more news
Follow us on Facebook | Twitter | Instagram | YouTube