A federal grand jury has indicted the former president of Austal USA, and two other former Austal executives, with “orchestrating an accounting fraud scheme,” at the Mobile shipyard, according to a release from the Unites States Department of Justice.

Craig Perciavalle, 52, Joseph Runkel, 54, a former financial analyst at Austal, and William Adams, 63, former director of the Littoral Combat Ship (LCS) program at Austal, are all accused of misleading Austal shareholders and potential investors about the the company’s financial situation.

[These clowns had one of the littoral combat ship contracts that have been an unmitigated disaster. ~ Beege]