Federal court exonerates WTC contractor accused of running $1B scam

Larry Davis was convicted of wire fraud and conspiracy charges last year

New York /
Aug.August 03, 2017 05:15 PM

A World Trade Center contractor convicted of fraudulently scoring $1 billion worth of work from the Port Authority of New York and New Jersey was exonerated Thursday.

Larry Davis, the owner of Canadian steel company DCM Erectors, was found guilty of wire fraud and conspiracy to commit wire fraud last year, the Associated Press reported. Prosecutors claimed Davis had lied about complying with requirements to employ minority and female subcontracts as a way to score high-paying jobs with the Port Authority.

They alleged he picked up contracts worth almost $1 billion in the construction of 1 World Trade Center and the transit hub.

However, on Thursday, Federal Judge Loretta Preska exonerated Davis. In a written ruling, she said Port Authority got what it paid for in hiring DCM Erectors. [Crain’s]Miriam Hall


Related Articles

arrow_forward_ios
Meredith Marshall (Photo by Emily Assiran)
“We need more housing”: Q&A with BRP Companies’ Meredith Marshall
“We need more housing”: Q&A with BRP Companies’ Meredith Marshall
(iStock/Photo Illustration by Kevin Rebong for The Real Deal)
Dubious gentrification study will backfire on New York City
Dubious gentrification study will backfire on New York City
Ryan Serhant and Gary Barnett on Development Slowdown in Pandemic
Coffee Talk: Extell’s Gary Barnett and Ryan Serhant
Coffee Talk: Extell’s Gary Barnett and Ryan Serhant
227 Grand Street in Williamsburg, and the Tel Aviv Stock Exchange (far left)
“I suppose a lot of people have a full stomach from what he did:” Inside Yoel Goldman’s very bad year
“I suppose a lot of people have a full stomach from what he did:” Inside Yoel Goldman’s very bad year
The newest plan for the New York Wheel is 210 feet shorter than the 2018 plans. (Cosentini Associates, Getty)
Honey, I shrunk the Wheel: Smaller ride planned for Staten Island
Honey, I shrunk the Wheel: Smaller ride planned for Staten Island
Modell's at 360 Fulton Street, Brooklyn (Google Maps)
Former Modell’s site in Downtown Brooklyn up for sale
Former Modell’s site in Downtown Brooklyn up for sale
Corey Johnson (Getty, iStock)
When NIMBYs attack: Why CoJo’s master plan won’t fly
When NIMBYs attack: Why CoJo’s master plan won’t fly
Mickey Rabina and renderings of his 452,132 square foot building. (Getty, Rabina, Ceruzzi Properties)
The 10 biggest new project filings in NYC
The 10 biggest new project filings in NYC
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...