Structure Tone Inc., the New York City-based building and interiors construction giant, pleaded guilty to fraud charges in a Manhattan court April 30 in a client overbilling and falsified recordkeeping arrangement, and will pay $55 million.
Manhattan District Attorney Cyrus R. Vance, Jr. said the payout was one of the largest forfeitures ever imposed on a construction company. but the firm was sentenced to a three-year "conditional discharge."
No company executives were named in the agreement.