Balfour Beatty says post-scandal monitoring of US unit has ended.
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.
Source: Sharecast
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.
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