Lockheed Group to Pay $27,000 for False Filings

Lockheed Martin Corp.’s political action committee agreed to pay a $27,000 penalty because its former assistant treasurer filed false reports to cover up his embezzlement, the Federal Election Commission said.

The Lockheed Martin Employees’ Political Action Committee filed false reports detailing its contributions and expenditures based on information submitted by the committee’s assistant treasurer at the time, Kenneth Phelps, according to the agreement. He was fired in 2004, Lockheed said.