COMPANIES

NCI embezzler gets 6.5 year prison sentence

The former NCI Inc. controller who embezzled around $19.4 million from the company was sentenced Friday to six-and-a-half years in prison.

Jon Frank will also have to pay the full amount back in restitution, the Justice Department said Friday. Frank pled guilty on federal wire fraud charges in June and admitted he transferred the funds from NCI’s bank account to his personal accounts over 10 years.

Frank created false documents to make the funds appear as reimbursements to another company that administered NCI’s health insurance plan. He spent the stolen money on automobiles and real estate, DOJ said.

NCI fired Frank in January upon the discovery of the embezzlement. Both the Securities and Exchange Commission and U.S. Attorney’s Office in Alexandria, Va. launched civil investigations into the matter. The U.S. Attorney’s Office also started a probe into the potential impact of the embezzlement on NCI's government contracts.

About the Author

Ross Wilkers is a senior staff writer for Washington Technology. He can be reached at rwilkers@washingtontechnology.com. Follow him on Twitter: @rosswilkers. Also find and connect with him on LinkedIn.

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