Navy Officer Guilty of $2.7M Procurement Fraud Scheme
A Virginia Beach naval officer has pleaded guilty to his role in a $2.7 million procurement fraud scheme and to lying on his federal income tax return.
Randolph M. Prince, 45, defrauded the Navy out of over $2.7 million through a procurement fraud scheme in which he steered government contracts to sham companies created and run by his friends.
According to court documents, Prince had the authority to make purchase requests for military equipment on behalf of his command and could sign for goods when a company delivered them to his unit.
Prince took advantage of his position to direct purchases to the sham companies, which never provided the Navy with anything in return. Instead, the money was distributed amongst Prince and his associates.
Prince pleaded guilty to wire fraud and making a false statement in connection with his 2014 tax return. He faces a maximum of 20 years in prison when sentenced on December 3, 2023.
A federal district court judge will determine any sentence after taking into account the U.S. Sentencing Guidelines and other statutory factors.
The case was announced by G. Zachary Terwilliger, U.S. Attorney for the Eastern District of Virginia, and other federal officials.
A copy of this press release is located on the website of the U.S. Attorney’s Office for the Eastern District of Virginia.
Key Facts
- State: Virginia
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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