OSU sues over alleged fraud in Ponca City
Ponca City Now - January 20, 2014 9:40 am
The FBI is investigating allegations a husband and wife committed a multi-million-dollar fraud on a Oklahoma State University-owned company located in Ponca City.
According to NewsOK the victim was OSU-Multispectral Laboratories.
UML is a limited liability company which conducts research involving drones and other devices for the benefit of U.S. defense, intelligence and homeland security agencies.
Attorney’s representing the company allege some of the funds were used to support an upscale dress shop in Oklahoma City or ended up in Cyprus offshore accounts.
They are trying to recover lost funds through a lawsuit filed last April in Kay County District Court.
UML representatives said "no federal or state appropriated funds were involved" in the alleged fraud.
Also, there is no indication that any classified information or research was stolen.