Unintentional bookkeeping errors that overcharged the U.S. Army by double billing, omitting volume discounts and inflating travel expenses will cost the Malvern maker of high-power electronics $265,000.
Silicon Power Corp. recently agreed to settle with the Army after cooperating with a government investigation into the matter.
According to their website Silicon Power Corp has “achieved global recognition as the industry leader in the design and manufacture of Semiconductors for high/medium power electronics”.
The company admitted the overcharges were “attributable to bookkeeping and/or accounting errors that were made in good faith and without any intention to overbill or mischarge the U.S. Army,” according to a Main Line Suburban Life report.
Read more about the settlement and Silicon Power’s nearly decade-long working relationship with the Army in Main Line Suburban Life here.
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