>>Newport News Company Agrees to Settlement; Accused of Falsely Obtaining Small Business Contracts
(Newport News, VA) -- A Newport News company has agreed to a settlement for falsely obtaining small business contracts by misrepresenting its size. Katie Gray with more.Preview: Voicer Script:
The U.S. Small Business Administration found that R&K Enterprises Incorporated failed to include revenue information from an affiliated company, K&P Management Inc., to meet size standards. 10 On Your Side reports the settlement of over $2.6 million dollars was reached following a multi-agency investigation and highlights the importance of enforcing laws to protect competition for contracts. The government emphasized the need to prevent ineligible companies from fraudulently obtaining contracts reserved for small businesses.