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Okabe & Haushalter is currently representing a client that has been named in an international fraud investigation. Our client has entered a guilty plea on this matter and is ready to face the court’s decision concerning his role in a securities fraud scheme.
According to the Department of Justice, the accused played a key role in an international kickback scheme that nearly bankrupted Computer Sciences Corporation as it purchased ServiceMesh, Inc., a cloud computing software company based in Santa Monica. The accused, an American working in Australia as an executive for Commonwealth Bank of Australia (CBA), collaborated with numerous co-conspirators to artificially inflate the value of ServiceMesh, Inc. as it was acquired by Computer Sciences Corporation.
FBI investigators believe that the accused used his role at CBA to purchase $10 million in goods and services from ServiceMesh, Inc. in 2013 and 2014. Not only did the accused receive kickbacks from these transactions, but also helped trigger a “performance goal payout” for ServiceMesh, Inc. set by Computer Sciences Corporation. Due to these purchases made by CBA, Computer Sciences Corporation paid an additional $98 million to buy ServiceMesh, Inc. as part of this payout.
The accused made roughly $630K from these illegal transactions. He has been charged with two counts: conspiracy to commit securities fraud and wire fraud. He is currently resolving another legal matter in Australia and is expected back in Los Angeles to face these charges.
At Okabe & Haushalter, our team preparing to ensure that our client receives the consideration he deserves in this matter. Even in the face of a guilty plea, all our clients receive vigilant advocacy in the courtroom that makes their rights and interests an absolute priority.
Have you been charged with a serious federal or international crime? If so, the experienced Los Angeles international criminal defense attorneys at Okabe & Haushalter are ready to hear from you. Our firm has the resources and institutional knowledge to handle these intricate matters and ensure that our clients’ cases are always navigated to the best possible outcome.
Don’t hesitate to launch an effective defense. Contact us today.