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A US federal court charged the CEO of a major defence contractor, Multinational Logistics Services, for allegedly participating in a bribery scheme to win defence contracts worth some USD 1.3 billion over the last decade, the Department of Justice said in a press release."The chief executive officer (CEO) of Multinational Logistics Services (MLS), a large ship husbanding company that has received over USD 1 billion in US Navy contracts since 2010, appeared in the United States today to face a criminal charge for his alleged participation in a bribery scheme," the release said on Monday.Frank Rafaraci, 68, a US citizen who was residing overseas, has been the CEO of MLS since 2005, the release said.Since about 2010, Rafaraci allegedly was involved in a scheme to bribe US Navy officials, defraud the US Navy using falsely inflated invoices, and launder the proceeds of the scheme through shell companies he set up in the United Arab Emirates in order to benefit MLS, the release said.If convicted, Rafaraci faces up to 15 years in prison, the release said. (ANI/Sputnik)( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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International :CEO of Major defence contractor MLS charged with bribery: Justice Department

A US federal court charged the CEO of a major defence contractor, Multinational Logistics Services, for allegedly participating in a bribery scheme to win defence contracts worth some USD 1.3 billion over the last decade, the Department of Justice sa ...