NY construction company to pay $20M in overbilling probe

NEW YORK (AP) – Federal prosecutors say one of New York City’s largest construction companies has agreed to pay more than $20 million after admitting to over billing clients.

The U.S. Attorney’s office in Brooklyn said Thursday that Tishman Construction’s payment will include restitution to victims and penalties to the federal government.

They say the company had been charging clients for unworked times and at higher rates than what had been bargained for by the clients. Authorities say it happened for about 10 years on projects that included construction of One World Trade Center, Aqueduct Casino and the expansion of the Javits Convention Center.

A spokesman for Tishman says the company recognized deficiencies in their policies, instituted safeguards and cooperated with the probe.

(Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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