Teledyne Industries

FOUNDED IN 1960 by Henry Singleton and George Kozmetsky, Teledyne, Inc. was a communications company created to capitalize on the shift from analog to digital technologies. Teledyne has since branched out into several subsidiaries including companies in the fields of electronics, communications, engineering, aerospace, and energy.

Several of these subsidiaries have continued to branch off into separate units of their own. One of the units, Teledyne Industries, is a military contracting company based out of Newbury Park, California, and has been involved in several cases of defrauding the U.S. government, specifically, the Department of Defense. Most of the cases involve inflated pricing and inadequate testing of military equipment.

Between 1980 and 1986, Teledyne Hydra-Power, a unit of Teledyne Industries, defrauded the U.S. Navy of $4.5 million on ...