The U.S. Department of Justice reports that Austal USA LLC, a subsidiary of Australian shipbuilder Austal Limited (ASX: ASB) yesterday entered a guilty plea and agreed to pay $24 million to resolve an investigation by the Justice Department related to an accounting fraud scheme and efforts to obstruct the Defense Contract Audit Agency (DCAA) during a financial capability audit.
The Justice Department’s criminal resolution was coordinated with the U.S. Securities and Exchange Commission (SEC)....