Friday, December 17, 2010

Big-Time fraud in NYC time-and-attendance initiative

CityTime Consultants Charged With Stealing $80 Million (Gothamist)
Four consultants hired to run quality assurance have been accused of taking $80 million in "an elaborate fraud and kickback scheme" that involved faked time sheets (ha!) and a series of shell companies. According to the suit the suspected ringleader even got his mom and his wife in on the scheme!
Fraud is fraud and it could occur with any government contract entrusted to corrupt individuals. As noted by the quoted section above, the fact that faked time sheets were used to steal from a biometric time and attendance system contract is at the least ironic.

UPDATE:
NYC payroll chief resigns after fraud probe