The FINANCIAL — Booz Allen Hamilton Holding Corporation (Booz Allen) has agreed to pay the United States $15,875,000 to resolve allegations that Booz Allen Hamilton Engineering Services LLC (BES), a wholly owned subsidiary of Booz Allen, violated the False Claims Act by knowingly submitting fraudulent claims to the United States in connection with a General Services Administration (GSA) task order to supply computer military training simulators and systems to Department of Defense (DoD) agencies, including the Air Force. Booz Allen, which is headquartered in McLean, Virginia, provides a range of management, consulting and engineering services to the government. BES was an engineering services firm located in Annapolis Junction, Maryland, with offices in Dayton, Ohio, and other locations.
The settlement announced today resolves allegations that BES, through its former program managers John G. Hancock and Karen K. Paulsen, knowingly engaged in a fraudulent course of conduct with Keith A. Seguin, then a civilian Air Force employee and contracting official, and David J. Bolduc Jr., the co-owner and manager of a BES subcontractor, QuantaDyn Corporation, that resulted in GSA awarding BES a task order for training simulators. BES, in turn, awarded task orders (or “modules”) to QuantaDyn. The government alleges that Seguin improperly and illegally divulged confidential government contracting and budget information, a competitor’s confidential bid or proposal information and source selection information to Hancock and Paulsen, who used the illicit information despite knowing they were not authorized to possess it. Through this conduct, Hancock and Paulsen successfully influenced GSA to award the task order to BES.
Additionally, the government alleges that, after the GSA award, Hancock, Paulsen, Seguin and Bolduc made use of confidential government budget information to formulate and submit price quotes to GSA for the individual modules that BES awarded to QuantaDyn on a sole-source basis. As a result of the conduct described above, BES, through Hancock and Paulsen, knowingly submitted fraudulent claims to GSA under the 37 modules awarded to QuantaDyn, which GSA paid. Hancock, Paulsen, Seguin and Bolduc previously resolved criminal charges related to this conduct.
Franklin Resources Inc. lifted its stake in Booz Allen Hamilton Holding Co. (NYSE:BAH – Free Report) by 9.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 87,607 shares of the business services provider’s stock after acquiring an additional 7,271 shares during the period. Franklin Resources Inc. owned approximately 0.07% of Booz Allen Hamilton worth $14,249,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of BAH. Tidal Investments LLC raised its position in shares of Booz Allen Hamilton by 17.7% during the third quarter. Tidal Investments LLC now owns 13,165 shares of the business services provider’s stock valued at $2,143,000 after buying an additional 1,979 shares during the last quarter. World Investment Advisors LLC grew its position in Booz Allen Hamilton by 26.1% during the third quarter. World Investment Advisors LLC now owns 6,719 shares of the business services provider’s stock worth $1,094,000 after buying an additional 1,390 shares in the last quarter. Anchor Investment Management LLC increased its stake in Booz Allen Hamilton by 865.7% during the third quarter. Anchor Investment Management LLC now owns 647 shares of the business services provider’s stock valued at $105,000 after acquiring an additional 580 shares during the period. Sunbelt Securities Inc. raised its holdings in Booz Allen Hamilton by 41.8% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,358 shares of the business services provider’s stock valued at $221,000 after acquiring an additional 400 shares in the last quarter. Finally, Toronto Dominion Bank lifted its position in shares of Booz Allen Hamilton by 29.6% in the 3rd quarter. Toronto Dominion Bank now owns 16,909 shares of the business services provider’s stock worth $2,752,000 after acquiring an additional 3,863 shares during the period. Institutional investors own 91.82% of the company’s stock.
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