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News/Compliance & Enforcement/Purchaser of Department of Energy Loan to Pay $29 Million to Settle Alleged Bidding Fraud
False Claims Act·Compliance & Enforcement Brief

Purchaser of Department of Energy Loan to Pay $29 Million to Settle Alleged Bidding Fraud

PA
PubK AdminFebruary 5, 2020 · 1 min read
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Hybrid Tech Holdings LLC, Hybrid Technology LLC, and Ace Strength International LTD have agreed to pay $29 million to resolve allegations that they violated the False Claims Act by rigging the bidding in an auction for a non-performing loan from the Department of Energy to Fisker Automotive.

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