Audit questions millions in Blackwater contracts
Audit questions millions in Blackwater contractsBy MIKE BAKERAssociated Press WriterRALEIGH, N.C. (AP) ó A federal audit says private security contractor Blackwater Worldwide and the company’s affiliates may have misrepresented their size to win more than $100 million in government contracts set aside for small businesses.
A report provided by the Small Business Administration’s Office of Inspector General on Monday found that Blackwater’s airline affiliate won more than $107 million in contracts set aside for companies with revenues of less than $25.5 million or 1,500 employees.
The report questions whether Blackwater could meet either of those thresholds and says the company may have misrepresented itself.
Blackwater executives said last week they are on track to reach annual revenues of $1 billion per year by 2010. The company declined immediate comment Monday.