NCI, Inc. Reports $18 Million Embezzlement by Corporate Controller

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Last week, NCI, Inc. reported that it fell victim to $18 million of embezzlement by its corporate controller. Read the Company’s Press Release here.

NCI is a Northern Virginia-based provider of enterprise solutions and services to U.S. defense, intelligence, health, and civilian government agencies. The controller reportedly embezzled $5 million in 2016, and $13 million over the previous five years. According to the Company’s preliminary findings, the misappropriations were reflected as expenses in the Company’s financial statements. Accordingly, NCI has concluded that the un-audited interim financial statements for the nine-month period ending September 30, 2016, contain material errors related to …read more

Read more here:: Beyond The Numbers

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Carrie Sherreard has written 58 post in this blog.

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