Amid fraud investigation, NYC orders concrete retested in 82 buildings

October 6th, 2009 MUMBAI - Engineering and construction major Larsen and Toubro (L&T) has bagged orders worth Rs.1,513 crore during the second quarter this fiscal, the company said Tuesday. Buildings and Factories Operating Co, part of L&T's construction division, has secured a Rs.621-crore contract from DB Hospitality Ltd for building a high-rise tower, India Tower, at Charni road, Mumbai.

October 1st, 2009 Several charged in NYC construction corruptionNEW YORK — Six former New York City building inspectors, two reputed Lucchese crime family leaders and more than two dozen other people and businesses were indicted Thursday in a sprawling racketeering case that ranges from construction bribes to gun trafficking. The encyclopedic indictment grew out of a gambling investigation and ultimately spanned from a betting operation in Costa Rica to construction bribes in the Bronx, authorities said.

September 10th, 2009 Stanford former security director chargedWASHINGTON — The former director of security for accused swindler Allen Stanford has been charged with destroying documents in the investigation into the alleged multibillion-dollar fraud. Federal prosecutors say Thomas Raffanello, who worked at Stanford Financial Group's office in Fort Lauderdale, Fla., ordered a subordinate to shred documents after they were told to keep documents for federal investigators.

August 25th, 2009 Calif. hedge fund manager pleads guilty to fraudLOS ANGELES — The founder and manager of two Beverly Hills hedge funds has pleaded guilty to federal fraud charges. Bradley Ruderman pleaded guilty Monday to two counts of wire fraud, two counts of investment adviser fraud and a misdemeanor count of failing to file income taxes in 2007.

August 20th, 2009 Correction: Meltdown 101 Q&A on flash ordersNEW YORK — In an Aug. 13 Q&A about a stock trading service called "flash orders," The Associated Press, relying on a news release, reported erroneously that the exchange Direct Edge ECN LLC planned to stop offering the orders.

August 13th, 2009 Clarification: Mortgage fraud storyLOS ANGELES — In the first paragraph of an Aug. 10 story about a mortgage fraud trial, The Associated Press reported that real estate agent Joseph Babajian was acquitted in the scheme, while two others were found guilty.

August 6th, 2009 SEC: Ex-AIG CEO Greenberg settles fraud chargesNEW YORK — The Securities and Exchange Commission said Thursday that former American International Group CEO Maurice "Hank" Greenberg agreed to pay a $15 million fine to settle fraud charges. The charges are tied to an accounting scandal earlier this decade at AIG that led to Greenberg's ouster in 2005.

August 5th, 2009 Factory orders rise unexpectedly in JuneWASHINGTON — Factory orders rose in June for the fourth time in five months, an unexpected gain and the latest sign that the ailing manufacturing sector is recovering. The Commerce Department says factory orders rose 0.4 percent, after a 1.1 percent increase in May.

July 28th, 2009 Feds charge 41 in Fla. mortgage fraud schemesMIAMI — Federal prosecutors say 41 people have been charged in the latest round of South Florida mortgage fraud schemes.

July 8th, 2009 6 arrests in Wall Street fraud caseNEW YORK — Federal authorities say six people have been arrested in a securities fraud investigation involving a Wall Street brokerage firm. The case involves an alleged $140 million scheme that spanned a decade.

July 7th, 2009 Tenn. laborers buried in concrete, 1 deadLENOIR CITY, Tenn. — Authorities say one of two workers buried in concrete at a Tennessee construction site has died and the other has been taken to a hospital in critical condition.

June 25th, 2009 SoCal immigrant activist charged with vote fraudLOS ANGELES — An outspoken immigrant rights activist has been charged with election fraud for allegedly registering to vote in Los Angeles County when he did not live there. District attorney's office spokeswoman Jane Robison says Thursday that Nativo Lopez has been charged with voter registration fraud, filing false documents, perjury and fraudulent voting.

May 12th, 2009 Executive indicted on 2 counts in Stanford caseHOUSTON — A federal grand jury in Houston has indicted the chief investment officer for Texas billionaire R. Allen Stanford's companies, alleging she obstructed the government's investigation in a fraud case.

February 26th, 2009 NEW DELHI - Construction and engineering major Larsen and Toubro (L&T) Thursday said it has bagged new orders worth Rs.1,162 crore (Rs.11.62 billion) for the construction of factories and residential projects. The orders have been bagged by L&T's Buildings and Factories Operating Co, which is part of its construction division.

January 31st, 2009 CHENNAI - The 500-MW prototype fast breeder reactor (PFBR) fast coming up at Kalpakkam, 80 km from here, has several firsts to its credit. 'For the first time in the country's nuclear power plant construction history, components are being fabricated on site owing to their huge size and weight,' Prabhat Kumar, project director, Bharatiya Nabhikiya Vidyut Nigam Limited (Bhavini) told IANS.