Maryland data center contractor, former CEO settle SEC fraud allegations for $1.8 million
AiNET Corp. and its former chief executive officer, Deepak Jain, have agreed to pay $1.8 million to settle allegations that they violated the False Claims Act by knowingly submitting false claims for data center services provided under a contract with the U.S. Securities and Exchange Commission, the Justice Department announced.
AiNET Corp. and its former CEO, Deepak Jain, will pay $1.8 million to resolve allegations of violating the False Claims Act. The settlement addresses claims of knowingly submitting false invoices for data center services provided to the U.S. Securities and Exchange Commission. The Justice Department announced the agreement to settle these charges.
- AiNET Corp. and former CEO Deepak Jain agreed to pay $1.8 million.
- The settlement resolves allegations of violating the False Claims Act.
- The company is accused of knowingly submitting false claims for data center services.
- These services were provided under a contract with the U.S. Securities and Exchange Commission.
- The Justice Department announced the settlement.
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