Home Commercial News Balfour Beatty US arm to pay £49m after pleading guilty to fraud

Balfour Beatty US arm to pay £49m after pleading guilty to fraud

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Balfour Beatty US arm to pay £49m after pleading guilty to fraud

Balfour Beatty’s US arm is guilty to major fraud on its military housing maintenance contract, hence has been ordered to pay out £49m fine.

The fine is pay-ou is made up of £25m in fines and £24m in damages relating to its military housing contract at Airforce, Navy, and Army bases across the United States.

US Deputy Attorney General Lisa O. Monaco stated that: “Instead of promptly repairing housing for U.S. service members as required, BBC lied about the repairs to pocket millions of dollars in performance bonuses.”

“This pervasive fraud was a consequence of BBC’s broken corporate culture, which valued profit over the welfare of servicemembers.

“Today’s global resolution sends a clear message to companies that if they do not maintain adequate compliance programs, voluntarily self-disclose misconduct, and fully cooperate with the government, they will pay a price that outweighs the profits they once reaped.”

 

 

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