- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jeff Dale2024-03-12T20:59:00
Economic data and research firm Argus Information and Advisory Services agreed to pay $37 million to settle charges from the Department of Justice (DOJ) alleging misuse of data obtained through federal regulatory contracts.
Argus was tasked with validating, aggregating, storage, retrieval, and reporting services for anonymized credit card data that regulatory agencies directed banks to provide but broke its contract by misusing the data to create proxy data it incorporated into products and services sold to commercial customers, the DOJ said in a press release Tuesday.
Argus will pay $13.5 million in restitution to the United States under the False Claims Act, plus interest, according to its settlement agreement. The company settled without admitting or denying liability but did deny it knowingly took part in the alleged misconduct.
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Consolidated Nuclear Security agreed to pay $18.4 million to settle alleged False Claims Act violations regarding the submission of timecards for unworked hours to the National Nuclear Security Administration.
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A subsidiary of McKinsey & Co. will pay nearly $123 million to the Department of Justice to settle allegations that it bribed officials in South Africa to win consulting contracts.
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