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Former Austal USA Executives Indicted for Alleged Accounting Fraud, Face SEC Complaint
A federal grand jury on Friday indicted former Austal USA executives on felony fraud charges, alleging that they intentionally manipulated costs and earnings reports and mislead company investors and shareholders about the true costs of building Littoral Combat Ships for the U.S. Navy.A grand jury in Alabama issued the March 30 indictment against Craig Perciavalle, 52, who was president of Mobile, Ala.-based Austal USA and oversaw shipbuilding and financial operations; William Adams, 63, who was director of Austal USA’s LCS and the Spearhead-class Expeditionary Fast Transport (EPF) programs; and Joseph Runkel, 54, who formerly Austal USA’s director of financial analysis. Runkel was fired from Austal USA shortly after the indictment was announced, USNI News understands.
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Former Austal USA Executives Indicted for Alleged Accounting Fraud, Face SEC Complaint - USNI News
A federal grand jury on Friday indicted former Austal USA executives on felony fraud charges, alleging that they intentionally manipulated costs and earnings reports and mislead company investors and shareholders about the true costs of building Littoral Combat Ships for the U.S. Navy. A grand...
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