A contractor convicted of fraud was defended by an official in the Office of Naval Research, who said the man's company provided vital components for the Navy's electromagnetic gun, a futurist weapon that will shoot hypersonic projectiles. Work on the project has already been set back by the man's legal troubles, the naval official claims.
Those delays may get worse. Srikanth Raghunathan was sentenced to 52 months in jail, and his wife to 40 months. Both pleaded guilty last year to making fraudulent statements to obtain multiple bank loans. As this article describes:
If you read the full article, you'll see couple didn't use the loans to finance a lavish life, but rather, put the money into their business to keep the venture afloat. That's still fraud. So, I'm sypathetic that the Navy needs their technology, but this particular weapon isn't going to be helping troops for another 15 years minimum (and likely longer).
In other words, it'll still be around when Raghunathan gets out of jail.
[For background Defense Technology International* did a good overview article on the electromagnetic gun program available here]*