- Associated Press - Thursday, June 2, 2016

HARTFORD, Conn. (AP) - Federal prosecutors say a Connecticut company that develops wireless underwater communications systems has agreed to pay a $400,000 settlement to resolve allegations that is misused federally-funded grants.

The settlement announced Thursday by U.S. Attorney Deirdre Daly applies to Mansfield-based Aquatic Sensor Network Technology LLC, known as Aquasent, and five of its employees.

Federal authorities say the company violated the federal False Claims Act and the common law in the management of National Science Foundation grants.

Aquasent has received nearly $1 million in NSF grants since 2008 through the Small Business Innovation Research program, which financially supports innovative small businesses.

Prosecutors say among other things, Aquasent misrepresented the identity and number of third party investors.

A telephone message left with Aquasent on Thursday was not immediately returned.

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