Former Exec Pleads Guilty to Contractor Fraud
ST. LOUIS - A former St. Louis construction company executive has pleaded guilty in federal court to mail fraud and money laundering.
Clone Oliver of Apollo Beach, Fla. pleaded guilty Thursday in U.S. District Court to six counts of mail fraud, wire fraud and money laundering. He'll be sentenced in December and also must forfeit two Florida homes and other ill-gotten property.
Prosecutors say Oliver participated in a scheme to defraud Alberici Constructors, Inc., where he was vice president of construction.
Oliver admitted to overbilling Alberici by $4.8 million from 2006 through 2011 on an Arlington, Va., water treatment plant project.
He and a subcontractor submitted fake invoice and then split the payments. Co-defendant Kenneth Mark Simmons of La Grange, Ga. pleaded guilty earlier this month.