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July 27, 2016 By AMK

Settlements reached with 3 Puerto Rico firms for misrepresenting small business status

The Justice Department and the Nuclear Regulatory Commission have reached a financial settlement of $132,000 with three entities that allegedly misrepresented their small business status in order to pay reduced nuclear material handling fees.

While denying the allegations, the three entities — Constructora Santiago II, Corp., Centro Cardiovascular and Hospital Del Maestro — collectively agreed to pay the settlement.

NRCIn order to possess and handle radioactive materials, an entity has to obtain a license from the Nuclear Regulatory Commission (NRC) and pay an annual fee.  The NRC permits companies to pay a reduced fee if it qualifies as a small business.

In order to certify small business status, a business must average gross receipts of $7 million or less over its last three completed fiscal years.  Each small business entity is required to complete a form certifying that it meets the criteria to qualify as a small business entity.

According to the settlement agreements, Constructora Santiago II, Corp., Centro Cardiovascular and Hospital Del Maestro falsely certified that each had gross receipts of less than $7 million when the government contends that in fact, all three companies had gross receipts that greatly exceeded $7 million.  As a result of their false claims, each of the three entities paid reduced NRC license fees.

Source: https://www.justice.gov/usao-md/pr/united-states-reaches-settlements-three-puerto-rico-entities-falsely-certifying-small

Filed Under: Government Contracting News Tagged With: DOJ, false claims, False Claims Act, fraud, Justice Dept., NRC, settlement, size standards, small business

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