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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Diversified Royalty Corporation (PK) | USOTC:BEVFF | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.004 | 0.21% | 1.93 | 1.90 | 1.96 | 1.93 | 1.93 | 1.93 | 1,651 | 21:25:41 |
DOW JONES NEWSWIRES
A former executive at a Canadian company that treats and disposes of contaminated soils became the latest to plead guilty to participating in a conspiracy to pay kickbacks and commit fraud at a New Jersey Superfund site.
Robert P. Griffiths pleaded guilty to three counts, including one for being part of a conspiracy to defraud the Environmental Protection Agency by inflating the prices he charged to a prime contractor of the EPA and providing kickbacks to employees of that prime contractor.
Another former official at Bennett Environmental Inc. (BEV.T) and the company itself pleaded guilty last year to participating in the same conspiracy, which revolved around the cleanup of the Creosote Superfund toxic waste site in Manville, N.J.
According to a press release Monday announcing Griffiths' guilty plea, Griffiths and his co-conspirators inflated the bid prices to cover approximately $1.3 million in kickbacks and money Bennett kept for itself. All told, the federal government contends the co-conspirators were able to allocate at least $43 million in fraudulently awarded subcontracts to BEI for the removal, treatment and disposal of contaminated soil.
Griffiths also pleaded guilty to conspiracy to commit international money laundering, the purpose of which was for Griffiths to profit personally from the fraud and kickback scheme. From approximately February 2003 through approximately September 2004, Griffiths and a co-conspirator received more than $1 million in kickbacks through his shell company. Lastly, Griffiths pleased guilty to obstructing an official proceeding before the Securities and Exchange Commission.
He faces a total of 45 years in jail and $1.5 million in fines.
To date, seven individuals and three companies have pleaded guilty in this investigation.
-By Kevin Kingsbury, Dow Jones Newswires; 212-416-2354; kevin.kingsbury@dowjones.com
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