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Balfour Beatty to pay £49m fine for fraud against US military
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British construction company Balfour Beatty will pay $65m (£49m) in fines after pleading guilty to fraud committed against the US military.
The company’s US arm was one of the biggest providers of privatised military housing to the US army, navy and air forces at 55 bases across the states of Georgia, Oklahoma and Texas, but it lied about repairs in order to increase bonus payments, the US Department of Justice said on Thursday.
The company, a member of the FTSE 250 index of mid-sized companies, had to meet various maintenance and resident satisfaction targets to qualify for the bonuses. But employees deliberately altered data in its property management software and falsified resident comment cards to reach the required levels.
The payout
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