October 20, 2014
PHILADELPHIA – Thermacore, Inc. (“Thermacore”) has agreed to a $965,000.00 settlement to resolve allegations of fraud arising as part of the Federal government’s Small Business Innovation Research (“SBIR”) program. According to the United States, Thermacore is responsible for duplicate SBIR awards submissions. The United States contends that these submissions, and the attendant certifications, constituted false statements to the Federal government. The settlement was announced today by First Assistant United States Attorney Louis Lappen. Thermacore denies the allegations.