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How the Pentagon Was Duped by Contractors Using Shell Companies

Published: January 5, 2020
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Source: cryptogon

<i>The Pentagon, Image Source: <a href='https://www.flickr.com/photos/mindfrieze/2196640900'>Flickr</a></i>

Duped. *wink*

Missing $21 trillion? Yep, still missing.

Via: Bloomberg:

Shell companies have come under attack for obscuring illicit money flowing into real estate. But it turns out they’re also a problem for the Pentagon.

Some Defense Department suppliers have used such front companies to fraudulently win manufacturing bids, according to a U.S. Government Accountability Office study of Defense Department contractors.

In some cases, the shell companies helped contractors obscure that they were making U.S. military equipment abroad, the GAO said, posing a risk to national security and quality control. More often, they were used to win contracts meant for companies owned by disabled veterans or minorities, it said.

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