Delaware Business Now, July 29, 2020
A Delaware man pleaded guilty to wire fraud in connection with false representations that he made in a final report to the United States Air Force, a release from the United States Attorney’s office in Delaware stated.
Pengcheng Lv is a co-owner of AlphaSense, Inc. a small technology company located in Wilmington.
Starting as early as 2008 and continuing through at least 2016, prosecutors said Lv made false representations in grant proposals and payment requests to United States government agencies, including the United States Department of Energy (DOE), Air Force, Navy, and Army, the Defense Advanced Research Projects Agency, the National Science Foundation (NSF), and the National Aeronautics and Space Administration (NASA).
Lv was seeking funds for scientific research.
The total loss due to to Lv’s conduct is between $250,000 and $500,000. As part of Lv’s plea, he also agreed to enter into a civil settlement to pay $700,000 in damages to the government for violations under the False Claims Act, the release stated.