It only took the DoJ eight years to levy a fine for ripping off tax dollars. Imagine if journalists on the Pentagon beat actually went after the fraud and inefficiencies of the military industrial complex with investigative lenses and FOIA festivals that could shed light on these wacky spending sprees.
This fraud occurred on the extraordinary mutli-billion dollar Little Crappy Ship program which has seen “ships” with a 25 year service life retired as early as seven years because they don’t work. These are fish reef structures that haven’t been sunk yet.
Very expensive future fish housing complexes.
Now go after Disney next.
Austal USA, an Alabama-based shipbuilder that makes vessels for the U.S. Navy, has admitted wrongdoing and agreed to pay a $24 million fine to settle an accounting fraud investigation, the U.S. Department of Justice announced Tuesday.
From 2013 through July 2016, Austal USA conspired to mislead shareholders and investors about the company’s financial condition, the department said. The company pleaded guilty to one count of securities fraud and one count of obstruction of a federal audit.
The Justice Department said the appropriate criminal penalty would be $73 million, but that was reduced because of Austal USA’s inability to pay. In addition to the $24 million criminal fine, the company is also on the hook for $24 million in restitution for shareholder losses.
https://www.defensenews.com/global/the-americas/2024/08/28/us-navy-shipbuilder-austal-usa-to-pay-24m-to-settle-fraud-probe/
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