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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 ...
“The investigations focused on conduct that occurred over 8 years ago, and with a large order book of work ahead of us, we need to concentrate on the future — not the past,” Rothwell added. The Justice Department said that from 2013 through July 2016, Austal USA misled shareholders and investors about the company’s financial condition.
Executives with military shipbuilder Austal said settling an accounting fraud investigation, which included an agreement to pay a $24 million penalty, is the best outcome for the company and that ...
Austal USA is an American shipbuilder based on Blakeley Island in Mobile, Alabama.It is a subsidiary of the Australian shipbuilder Austal, operating under a Special Security Arrangement which allows it to work independently and separately on some of the most sensitive United States defense programs despite its foreign ownership.
In this list of financial regulatory and supervisory authorities, central banks are only listed where they act as direct supervisors of individual financial firms, and competition authorities and takeover panels are not listed unless they are set up exclusively for financial services.
The Multinational Logistics Services [1] (MLS) scandal is being compared to that of the Fat Leonard scandal.Both involve a husbanding agent that has charged exorbitant fees to the United States Navy in exchange for port services for ships, with the Fat Leonard scandal centered around the United States Seventh Fleet and MLS around the United States Fifth Fleet.
On Friday, the Department of Defense awarded a pair of contracts benefiting General Dynamics . Together, the contracts are worth roughly $43.2 million, breaking down as follows. The larger ...
MOBILE, Ala. (AP) — 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.