Man admits getting $150,000 in kickbacks for US Navy work

Markets Associated Press

A Pennsylvania man who worked for a company that made parts for the U.S. Navy has pleaded guilty to soliciting and receiving $150,000 in kickbacks for providing work to a New Jersey firm.

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Christopher Sanchirico pleaded guilty to conspiracy to violate the federal kickback act in Newark on Tuesday.

He lived in King of Prussia and was the assistant purchasing manager for a Philadelphia company that made shock-hardened circuit breakers and switchgears for Navy ships, submarines and aircraft carriers.

Prosecutors say he received between 5 percent and 10 percent of the revenue from work he provided to a Cherry Hill machine shop that gave him kickbacks.

He faces up to five years in prison and a $250,000 fine. He will be sentenced in January.