Camden, NJ – In a shocking turn of events, Keith B. Fisher Sr., 59, of Philadelphia, Pennsylvania, pleaded guilty to a superseding information charging him with one count of conspiracy to commit mail fraud in a Camden federal court yesterday.
Fisher, the owner of KLA International Inc., Quad Trade Services Inc., and TCI Technologies Inc., admitted to orchestrating a massive fraud scheme that bilked approximately 40 businesses out of more than $1 million, according to U.S. Attorney Paul J. Fishman.
Between February 2010 and August 2015, Fisher and his conspirators bid on federal contracts through FedBid.com, a online marketplace that provided reverse auction services. Upon submitting a winning bid, Fisher’s companies were awarded contracts to provide goods to government agencies.
However, instead of paying the third-party vendors for the goods, Fisher and his conspirators induced them to ship the goods to the government agencies on credit by making false and fraudulent representations about the credit-worthiness, business history, and financial status of his companies.
The scheme was uncovered after an investigation by special agents from the U.S. Department of the Interior, Office of Inspector General, the U.S. Naval Criminal Investigative Service, the U.S. Army Criminal Investigation Command, the Department of Veterans Affairs, Office of Inspector General, the U.S. Department of Justice, Office of Inspector General, and the United States Postal Inspection Service.
Fisher faces a maximum potential penalty of five years in prison and a maximum fine of $250,000 or twice the gross gain or loss associated with the offense, whichever is greatest. Sentencing is scheduled for June 19, 2017.
Assistant U.S. Attorneys Matthew J. Skahill and Diana Vondra Carrig are representing the government in this case.
This brazen scheme highlights the need for increased oversight and accountability in government contracting. As a journalist, I will continue to shine a light on these types of crimes and bring the perpetrators to justice.
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Key Facts
- State: New Jersey
- Category: White Collar Crime|Fraud & Financial Crimes|Public Corruption
- Source: DOJ Press Release â†â€â€
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