A former research executive accused by Oklahoma State University of hatching a large-scale fraud scheme avoided a prison sentence this week and instead will serve time in home confinement under the supervision of the Federal Bureau of Prisons.
In Oklahoma City federal court, Daniel Webster Keogh, 52, the former contract operator of university-owned OSU-Multispectral Laboratories, was ordered to serve 180 days of home confinement and pay back more than $3 million after pleading guilty to making false statements to obtain a federally backed loan from First Pryority Bank, and transferring federal funds without authorization.
Chief Judge Timothy D. DeGiusti also ordered Keogh to a term of supervised release for four years, which is to include 104 hours of community service during the first year.
Prosecutors sought an 18-month prison sentence.
Previous coverage:OSU sues over alleged fraud
In a case that spanned more than a decade, prosecutors accused Keogh of telling loan officers at the Tulsa-area bank the money would be used to buy equipment described as a “battery or set of batteries” to be installed at OSU-UML, but instead, he used the proceeds to fund research and the development of a utility-scale electromechanical battery.
Keogh and his company, Triton Scientific LLC, defaulted on the loan in December 2012, according to court documents.
In one alleged scheme, OSU claimed a company owned by Keogh’s wife,...
Park Filed Complaint Against President Lee Ahead of 2021 Election Jang Youngha Sentenced to One Year in Prison, Two Years Probation Confirmed The police have launched an investigation into Park Chu...