Olympics village developer pleads guilty to overcharging US clients
Lend Lease has pleaded guilty to fraud by overcharging for work on some of New York’s most famous landmarks.
The Australia-based developer and contractor, which built the athletes’ village for London 2012, will pay a USD $56m penalty for overcharging on jobs, including Citi Field, home of the Mets baseball team.
The former boss of its New York office could also face up to 20 years in jail, according to a report in The Times.
Lend Lease pleaded guilty to the charges on Monday.
An FBI investigation found the firm had routinely added work hours on projects and also charged for workers’ days off and sick days.
Robert McNamara, chief executive of Lend Lease Americas, said: “We are satisfied that the investigation is now resolved and we are looking forward to continuing our commitment to projects in New York City.”