Politics & Government

Company Building at RTC Admits Fraud

New York's Lend Lease will avoid criminal charges.

Lend Lease, the company that is constructing Boston Properties' new residential high rise at , has admitted to a huge fraud scheme in which it overbilled clients for many years.

The company has to pay $56 million in fines and restitution to avoid criminal charges, The New York Times reports.

The Times reports that the company also admitted that it evaded government rules to hire a specified percentage of firms owned by minorities and women. Law enforcement officials said the scheme defrauded government agencies and private developers of about $19 million, much of it tax money. To read the rest of the story, click here. 

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Lend Lease has worked on big projects in New York, including Citi Field, the renovation of Grand Central Terminal.

In Reston, it was awarded the construction contract by Boston Properties for The Avant at Reston Town Center last year. The project, located in the last undeveloped parcel at Reston Town Center (across from Reston Town Square Park), is expected to be completed in late 2013. Construction has been going on as usual this week.

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The property will be a 15-story tower with 359 luxury residential rental units and 26,000 of ground-level retail.


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