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(Sharecast News) - Balfour Beatty said a long-running compliance monitoring of its US subsidiary Balfour Beatty Communities had ended after a fraud scandal involving military housing that resulted in a 49m fine in 2021.
The infrastructure firm pleaded guilty after it was found to have falsified data to hit resident satisfaction targets and claim taxpayer-funded performance bonuses. Multi-year monitoring of the unit ordered by the Department of Justice ended on June 6.
Balfour said it had implemented a "broad improvement programme", including strengthening leadership and oversight structures, enhancing reporting and accountability mechanisms.
Reporting by Frank Prenesti for Sharecast.com
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