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

Larry Davis was convicted of wire fraud and conspiracy charges last year
August 03, 2017 05:15PM

One World Trade Center (credit: Joe Mabel via Wikimedia Commons)

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