An ongoing investigation
The
Cyberlux
Files.
Somebody explain the rest.
Right. A company whose stock traded for less than a penny told the Pentagon it could build 2,000 armed drones for Ukraine. The CEO knew the cost was $4,700 to build each one. Materials, labour, electronics, packaging. The lot. He charged the government nearly $40,000.
In Washington, apparently, a 740% markup is just called a price.
When the $38.7 million advance arrived, the account had $2,297 in it. Three days later, $213,000 went to a Mercedes dealership. Six weeks later, the CEO deposited $850,000 into his personal investment account. Before a single drone was delivered.
In Newport News, apparently, that's somebody else's problem.
Featured analysis · Start here
A1
Analysis · Contract architecture
A poorly written contract cost taxpayers at least $48 million.
The paper trail shows how an ordinary services vehicle became the channel for a $78 million drone procurement.
Read the analysis
A2
Analysis · Criminal exposure
The contract came with criminal exposure.
Sworn commission claims, advance-payment records, and settlement mechanics map onto a statutory ledger.
Read the analysis
Five threads · Pull one. See what unravels.
01
Thread 01 · The money
You gave $38.7 million to a company with $2,297 in its account. Walk us through that.
Follow the money
02
Thread 02 · The commission stack
Four parties had a cut arranged before the first drone existed.
The framework
03
Thread 03 · The interpleader
$49 million claimed. $23.7 million available. Do the maths.
The claims record
04
Thread 04 · The securities
The stock was being pumped while the drones weren't being built.
The securities layer
05
Thread 05 · The oversight
The question nobody asked.
The oversight record
Jackson Holt
Why this site exists.
This site was built to hold the question open. In public. In a form any reader can verify and any institution can access.
Read the statement →