A General Contractor Upgrades from Fraudulent Surety
Is a contractor that has been caught submitting a fraudulent surety bond and being cheated out of the premium capable of obtaining surety credit from licensed brokers and Treasury-listed sureties? In at least one case, the answer is yes.
A small general contractor in Colorado, Terravision Contracting Group, replaced the fraudulent bond it purchased for a small renovation project with one from a Treasury-listed surety, completed the project on time and under budget and moved on to bid for and win another project from the same owner. Another 21 contractors are known to have purchased similar fake bonds made to appear as if they were from a unit of The Chubb Group.
Most recently, Terravision used surety bonds obtained via a licensed broker from Travelers, according to records provided by Montrose County, Colo.
Terravision bills itself as a versatile general contractor and construction manager operating in Colorado, Utah, Nevada and Wyoming. Based in Montrose County, the company’s website lists its co-owners as Andrea and Matt Brezonick. Matt Brezonick serves as construction advisor, according to the website, and his biography says he has over 16 years of construction experience.