Posted on 06/21/2011 3:18:11 AM PDT by lowbridge
The husband-and-wife owners of a New Jersey company were charged today with raking in more than $460 million in crooked cash through the scandal-scarred CityTime payroll project.
Court papers say Reddy and Dr. Padma Allen secured a lucrative, no-bid subcontract that made it look like their firm, TechnoDyne, was was "a successful and fast-growing company."
But the "engine of its growth" was actually an over-billing scam in which the Reddys paid millions in kickbacks and hired a bevy of crooked sub-subcontractors, according to an indictment unsealed in Manhattan federal court.
Authorities say the brazen corruption was part of a "massive and elaborate scheme" involving high-ranking execs at prime contractor Science Applications International Corp. that drove up the enormous bills for CityTime, which was initially budgeted at $63 million but has cost more than $720 million to date.
(Excerpt) Read more at nypost.com ...
These numbers are absurd.
Bloomberg should have been thrown out for gross incompetence yesterday.
(The only problem is that the Libs of NYC will follow him with an even bigger incompetent.)
Preceded by several hundred million U.S. $'s to smooth their path.
new identities to boot too.
Padma Allen Political Campaign Contributions 2008 Election Cycle
A ten fold cost over run? Wow. How do I get a contract like that??
Let’s see, the prime culprits fled to India. Maybe Holder can engineer some kind of project to track them down, how about he authorizes the banks to release any funds they may have in the US and we trace the money to them?? He can use the ATF director in a new assignement, Project Curry Runner.
How does the system even allow someone to start a scam such as this? ...and why haven’t I discovered the secret?
Looks like it was all in her name, for "diversity" purposes.
“TechnoDyne”
Ha! They wish they were on the scale of YoYoDyne!
It’s no secret.... It’s New Jersey....
Wow—$ 720 million to develop a $ 63 million automated payroll system.
To do exactly what over the present automated payroll system.
This was low hanging fruit, and shows how taxpayers are routinely ripped off in NYC/NY/NJ.
$ 660 million in cost overruns and nobody stops the runaway train—now that’s corruption.
CityTime—at least it’s not GuilianiTime, right Rev. Al?
Hell NO, ya F***in' Douchebag motherf***er? It's Jersey! Now, Give me your shoes!
LOL...
It’s a highly unusual contract to start with. The last Cost Plus I saw was in Iraq by Office of Secretary of Defense (OSD).
Then NYC keeps paying into it 10x over original cost? WTH kind of options are those?
They were paying off city officials too I’d say. Watch a bunch of folks from the Comptroller, contracts and accounting take early retirement.
I think I know one of the contracts that overbid and underperformed.
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