The Obama administration’s American Recovery and Reinvestment Act provides billions of federal dollars for green technology. Many venture firms in Silicon Valley will undoubtedly invest in startups that bid on and receive “green” dollars.
But federal money can come with strings attached. The False Claims Act, expanded by the recently enacted Fraud Recovery and Enforcement Act, together have the potential to ensnare more transactions involving the use of federal funds. We will explore both the new potential risks to contractors and subcontractors — including technology startups — using government funds and how the administration will wield the expanded FCA when dealing with the current and future distribution of government funds. In addition we will consider best practices for avoiding exposure, and how to adapt them to green venture investment.
Funding Provided by the ARRA
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