Friday, June 1, 2012

Guam Highway Construction Fraud Costs Federal Taxpayers $913,277.79

A federal grand jury has indicted HUBTECH International Corporation and its CEO Young C. Kim on charges that they defrauded taxpayers of nearly a million dollars on a contract for $1.8 million to repair and rehabilitate culverts along Guam’s Route 2. The indictment alleges that HUBTECH and Kim falsely certified that American made steel reinforcing bars were used on the project, when in fact Kim and HUBTECH knew the steel rebars were manufactured in Korea. The indictment also charges submission of inflated invoices to the U.S. Department of Transportation on the job.

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