Scam News Channel

QuantaDyn Corporation Scandal Enters A Guilty Plea – Justice for the American Taxpayers Obtained

Webp.net resizeimage 13

QuantaDyn Corporation, a Virginia Based Software Company, is alleged for committing conspiracy to defraud the United States, conducting wire fraud, and performing money laundering.

The department of justive announced this Tuesday, September 15th, 2020 that a settlement has been reached in the Quantadyn Corporation scandal.

The QuantaDyn Scandal and Verdict

Included in the scandal was a series of unlawful events consisting of a government contract fraud scheme and bribery, these crimes were carried out for more than a decade. As per the indictment, QuantaDyn Corporation brought the contract fraud scheme into existence in the year 2006 and carried it until the year 2018.

The ramifications of the fraudulent activities can be described as nothing short of enormous, causing a loss of millions of dollars of taxpayer’s hard-earned money. William T. Dunn, Jr., the Majority owner, President, and Chief Executive Officer of the defendant corporation, entered a guilty plea for the allegations mentioned above. The U.S. District Judge Fred Biery ordered QuantaDyn to make a payment of $6.3 million as a fine and over $37 million in restitution.

In addition to the aforementioned sum, the judge provided the company with a money judgment forfeiture of $22,834,526.31. In addition, the confiscation of assets worth $7,099,863.77 was included in the verdict. For now, and for the next five years, QuantaDyn has also been placed on probation. Moreover, William T. Dunn has been required to pay $500,000 for resolving his personal False Claims Act liability.

U.S. Attorney John F. Bash showed gratitude and pride towards the law-enforcement partners who were able to bring justice to the American taxpayers. He also commented that such frauds would never be tolerated.

The QuantaDyn Bribe

In detail, the indictment alleges that Bolduc, one of the owners of QuantaDyn Corporation, delivered a bribe in the amount of $2.3 million to Seguin. Seguin was directly involved in the government contract process, and he misused his powers and capabilities to favor QuantaDyn.

The Fraud Claim

The story given was that the alleged corporation provides services in rendering training solutions to various defense-related U.S. government departments. Bribing Seguin resulted in a great deal of profit as the company obtained contracts and sub-contracts associated with aircraft and training solutions. Another company, Impex, Inc., has been named in the indictment for laundering the bribed money.

The Next QuantaDyn Trial

The next trial in the case is scheduled for February 2021. Upon conviction, Impex, Inc. owner Fiuza Lima, Bolduc, and Seguin stand to receive sentences that include the possibility of imprisonment for a maximum of up to forty-five years.
The prosecution was only made possible because of the joint efforts of multiple United Stated government agencies and showcased their efforts, determination, and talent to combat the fraudsters and fraudulent acts.

Exit mobile version