U.S. Markets closed

Former Israeli company executive pleads guilty to US fraud

NEW HAVEN, Conn. (AP) -- A former executive of an Israel-based defense contractor has pleaded guilty in Connecticut to crimes related to fraud schemes targeting a United States foreign aid program.

Yuval Marshak pleaded guilty on Monday to several counts of fraud in federal court. He had been extradited from Bulgaria following his indictment early last year.

The U.S. Department of Justice says Marshak carried out three schemes between 2009 and 2013 to defraud the Foreign Military Financing program. The program provides foreign governments with money to buy American-made military goods and services.

Marshak was accused of arranging for undisclosed commission payments to be made to a Connecticut-based company owned by a relative to disguise their true nature.

U.S. officials say the case was prosecuted with help from Israel's Ministry of Defense.