Balfour Beatty says post-scandal monitoring of US unit has ended

(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