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Arrest In $740M NYC Time and Attendance System Case 97

Posted by timothy
from the psst-your-power-trip-is-showing dept.
theodp writes "Mayor Bloomberg's perception of money, opines Gothamist's Christopher Robbins, is somewhat different than most non-billionaires. Just hours before the leader in the city's $740 million CityTime web-based time and attendance boondoggle was arrested for allegedly taking $5M in kickbacks, Bloomberg said on his weekly radio program that 'we actually did a pretty good job here, in retrospect.' Overshooting the projected $68M it would cost, adds Robbins, 'pretty much sounds like the exact opposite of a 'pretty good job'.' A US Attorney said SAIC Project Manager Gerald Denault was charged with accepting more than $5M in kickbacks laundered through international shell companies while steering more than $450M of city funds to the tech company behind the kickbacks. In December, CityTime consultants were charged with stealing $80 million."
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Arrest In $740M NYC Time and Attendance System Case

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  • Seize the $450M (Score:3, Interesting)

    by crow (16139) on Sunday May 29, 2011 @12:43PM (#36280340) Homepage Journal

    The law should be that if a company pays kickbacks to get a contract, they forfeit all proceeds from the contract. So if they bribe someone for a $450M contract, they then should be liable for the full amount. I'll talk to my state representative about that.

  • by anegg (1390659) on Sunday May 29, 2011 @01:40PM (#36280790)

    As an ex long-term employee of SAIC I can say that SAIC has done a lot of good work in many disciplines over the years. In my opinion, the company is not now the same as it originally was, however. It went from being a solely employee-owned company (and proud of it) to a public corporation with almost entirely new management team. The transition started happening around 2003 or 2004 or so, I think (SAIC began trading its stock publicly in the fall of 2006).

    Having said that, I'm aghast at the allegations over CityTime and the sheer size of what appears to be a giant debacle.

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