AEROSPACE & DEFENSE
From Times Staff and Wire Reports
Teledyne to Settle U.S. Charges: The Los Angeles-based conglomerate agreed to plead guilty to making three false statements and to pay a $1.5-million fine to settle federal charges against its Teledyne Systems unit in Northridge. Teledyne, which has faced a variety of defense fraud actions in recent years, said this case stemmed from Teledyne Systems’ use of a Taiwanese representative from 1984 to 1988. The representative’s payment was inaccurately reported as based on “fee for services,” when it fact the amount of compensation was based on an oral agreement with the company. Teledyne Systems makes aerospace electronics equipment.
