NCI Announces Internal Investigation
NCI (NCIT)
Last nci earnings: 5/9 04:14 pm
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US:NASDAQ Investor Relations:
phx.corporate-ir.net/phoenix.zhtml?c=193149&p=irol-irhome
Company Research
Source: Business Wire
RESTON, Va.--(BUSINESS WIRE)-- NCI, Inc. (NASDAQ: NCIT) (“NCI” or the “Company”), a leading provider of information technology and professional services and solutions to U.S. Federal Government agencies, announced today that, based upon preliminary findings, it has discovered that its controller, acting alone, embezzled money from the Company. The employment of the controller has been terminated, and the Company has commenced an internal investigation with the help of outside counsel and forensic accountants. While the investigation is ongoing, the Company believes that its former controller embezzled approximately $18 million over the last six years. NCI is working with legal counsel and cooperating with federal authorities to determine the best course of action from a legal, regulatory and recovery perspective, and will provide further information as soon as practicable. NCI believes that after direct
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