Posts tagged "governmental fraud"

Ibis Tek LLC: An Unethical Family Dynamic = a $6 million Fraud

There are all kinds of reasons why unethical people commit fraud, but when we boil it all down, they see an opportunity and if there are no checks and balances in place, they will seize that opportunity – just ask the folks at Ibis Tek LLC.

The outrageous expenses for defense are legendary. It is one thing to charge for an item fairly but it is quite another when a contractor chooses to defraud.

In Pennsylvania, there is a small company outside of Butler named Ibis Tek LLC. The company makes, among other things, window assembly kits for the Humvee. It may not sound like much, and maybe that’s what the former executives of the company figured, but former owners (and brothers!) Thomas Buckner and John Buckner, along with the company’s former CFO Harry Kramer, put together a scheme to overcharge the government by $6 million.

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Posted by Chuck Gallagher in business ethics and tagged , , , , ,