Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Ex-business manager of D.C. construction labor union charged with theft

Published 09/11/2015, 07:50 PM
Updated 09/11/2015, 07:56 PM
An ex-business mgr of a D.C. labor union was charged with stealing from the organization on Fri

Investing.com -- A former business manager of the Washington D.C. division of the Laborers International Union of North America has been charged with stealing from the organization, the U.S. Department of Justice said on Friday.

Anthony Frederick Sr., 49, Upper Marlboro, Maryland was charged in U.S. District Court of the District of Columbia with one count of theft from a labor organization. For a period of roughly a year through May, 2014, Frederick allegedly directed more than $1.57 million from the union's Local 657 division to a contractor in Maryland without alerting members of the local union's executive board. Frederick also refrained from reporting the transfer of funds to members of LIUNA International, which represents 500,000 laborers in the construction industry.

Frederick, according to the criminal complaint, paid more than $1 million to the contracting company for renovations at the union's local administrative building. Furthermore, Frederick allegedly directed more than $580,000 in the labor union's funds to fast-track construction permits for the construction of a new Local 657 training center. In addition, a LIUNA auditor also uncovered evidence that Frederick allegedly grossly overpaid the contractor for a variety of permits. In one notable instance, he approved a payment of $20,000 for a $143 excavation permit. In another, he directed another payment of $20,000 to renew an existing permit, which the local union could have obtained for $250.

STS Contracting, the company named in the criminal complaint, allegedly paid a down payment of $225,000 on a home purchased by Frederick and directed more than $600,000 to a company owned partly by Frederick's wife. Executives from STS Contracting also allegedly drained a bank account, which contained stolen Local 657 funds by withdrawing $500,000 to use on shopping trips, hotel stays, international travel and other personal expenses.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

The case is being investigated by the FBI and the U.S. Department of Labor.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.