Related Links: Six New York City Subs and CM Firm Indicted in Latest Interiors Renovation Fraud Probe 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.“Interiors construction is a multi-billion dollar industry in New
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.