March 14, 2012 / 3:22 PM / 5 years ago

SAIC to pay $500 mln in CityTime probe

March 14 (Reuters) - A unit of SAIC Inc has agreed to pay $500.4 million to resolve its part of a federal criminal probe into fraud at CityTime, a New York City payroll system.

Science Applications International Corp agreed to pay $370.4 million in restitution to the city, as well as a $130 million penalty, according to a deferred prosecution agreement made public on Wednesday. It also consented to the filing of a charge accusing it of conspiring to commit wire fraud.

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