Builder Lend Lease (U.S.) Construction LMB Inc., formerly Bovis Lend Lease, and its onetime top New York City executive on April 24 settled charges of decade-long overbilling, worker time-sheet padding and other fraud charges on public and private projects there.
The pact with the U.S. Attorney in Brooklyn defers prosecution of the firm. Lend Lease agreed to pay $56 million in penalties and compensation and implement "far-reaching corporate reforms."
James Abadie, 55, who had been executive vice president of Bovis and principal-in-charge of its New York City operations, pleaded guilty to conspiring to commit mail fraud as part of the overbilling scheme.
