Jeff Krantz Avoids Jail Term
Kristal Snider
ERAI Inc.
On July 28, 2015, after an extensive, multi-year investigation involving the Defense Criminal Investigative Service (DCIS) and the U.S. Department of Transportation, Office of Inspector General, Jeff Krantz pleaded guilty to supplying falsely remarked Intel microprocessor chips, many of which were used in U.S. military and commercial helicopters.
Krantz, who pleaded guilty to one count of wire fraud, was sentenced on December 10, 2015 to three years' probation and fined $100,000.00. He was also ordered to pay $402,650.00 in restitution.
As part of his guilty plea Krantz agreed to a two-year ban on the purchase or sale of electronic parts. He also forfeits all direct or indirect control over his company, Harry Krantz LLC, authorities said.
Additional reading
DOJ Press Release: New York Man Admits Supplying Falsely Remarked Computer Chips Used in U.S. Military Helicopters
United States of America v. Jeffrey Krantz – Wire Fraud Charge
United States Department of Justice – The Plea And Offense
United States of America v. Jeffrey Krantz – Jeff Krantz Statement
United States of America v. Jeffrey Krantz – Government’s Memorandum In Aid Of Sentencing
United States of America v. Jeffrey Krantz – Sentencing Memorandum On Behalf Of Jeffrey Krantz
United States of America v. Jeffrey Krantz - Sentencing
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