Austal USA executives indicted for accounting fraud scheme.

The former president of Austal USA, Craig Perciavalle, and two other former executives have been indicted for allegedly orchestrating an accounting fraud scheme at the Mobile shipyard between 2013 and 2016. The scheme involved the Littoral Combat Ship program and prosecutors say the three men falsely overstated Austal's reported earnings in its public financial statements, hiding growing costs that should have been incorporated into Austal's financial statements. All three men face up to 30 years in prison if convicted.