Construction company that worked on 9/11 memorial admits fraud

A construction company that worked on the Sept. 11 Memorial and Citi Field has admitted to a 10-year overbilling scheme and will pay more than $50 million in fines and victim restitution, prosecutors said Tuesday.

Lend Lease admitted to charges that it had a "systematic practice" between 1999 and 2009 of billing clients for hours its workers never worked, federal prosecutors said.

"Today's proceedings mark the culmination of a three-year investigation into a systematic pattern of audacious fraud by one of the world's largest construction firms," FBI Assistant Director in Charge Janice Fedarcyk said.

Lend Lease a subsidary of an Australian company, agreed to pay $56 million in penalties and restitution as part of a deferred prosecution agreement made public Tuesday.

The agreement showed the company, formerly known as Bovis Lend Lease, was cooperating with investigators.

(with Reuters)