Tishman Agrees to Settlement Amid Fraud Allegations
Tishman Construction Corp. has agreed to pay a settlement of $20.2 million dollars after admitting to overbilling clients over the course of the past ten years.
Charges of mail and wire fraud conspiracy were brought against the Tishman, one of the largest construction firms in New York City, for allegedly improperly billing clients over $5 million on projects such as Aqueduct Casino, One World Trade Center and the expansion of the Javits Convention Center.
A spokesperson for Tishman Construction Corp. said that the firm fully cooperated with the investigation.
Tishman is the latest in a string of construction companies to face similar allegations. In 2012, Lend Lease Construction agreed to pay $56 million in fines as part of a deferred prosecution agreement for defrauding clients over a ten-year period. In 2014, Structure Tone agreed to a settlement of $55 million after pleading guilty to fraud charges, and earlier this year, Hunter Roberts Construction Group LLC agreed to pay $7 million in restitution for overbilling.