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Va. man pleads guilty in Navy contract fraud

Thursday - 7/26/2012, 1:54pm  ET

NORFOLK, Va. - A Glen Allen man faces up to 20 years in prison after pleading guilty to fraudulently inflating the prices of items he sold to a Navy contractor.

U.S. Attorney Neil H. MacBride says 37-year-old Gregory Kirk Walsh pleaded guilty to wire fraud Thursday in federal court in Norfolk.

According to court documents, Walsh was a salesman for Anixter Shipboard Group of Richmond. He created false invoices and shipping documents to sell the company's wire and cable products to two small family-owned companies. He then repurchased the items from these companies and sold them to Northrup Grumman Corp.

Each transaction increased the products' prices, which boosted Walsh's commission on the sales. The products didn't leave Anixter's warehouse until they were shipped to Northrup Grumman.

Walsh's sentencing is set for Nov. 1.


(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)