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.
TL;DR
- 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.