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SEC Begins Formal Probe into Boston Road Project, Scrutinizes Bond Report.
Byline: Tina Cassidy
May 16--The Securities and Exchange Commission has upgraded an investigation into whether the state misled investors about finances of the Central Artery-Third Harbor Tunnel Project.
The news that securities regulators have turned their preliminary inquiry into a formal investigation was disclosed yesterday in an unrelated state bond offering for construction on college campuses.
Information provided with the bond offering said the state treasurer's office received notification a week ago that a formal probe had been launched.
"I can confirm that the SEC has advised our office that they are now conducting a formal investigation, and we will continue to assist them as they move forward," Dwight Robson, spokesman for state Treasurer Shannon P. O'Brien, said last night.
Officials at the SEC and the Massachusetts Turnpike Authority, which oversees the project, could not be reached for comment last night.
Also yesterday, lawmakers released their plan to pay for what is now estimated to be a $2 billion budget gap at the Big Dig.
- SEC Asks for Big Dig Documents.
- News wire article from: The America's Intelligence Wire October 14, 2006 700+ words
...aggressively than Governor Romney to gain control of the Turnpike Authority and Big Dig," he said. The Big Dig has come under the scrutiny of the SEC before. In 2003, former Big Dig chief James Kerasiotes and the Turnpike Authority settled fraud claims...
- Massachusetts' Cellucci Approves Big Dig Plan; SEC Probe Lingers.(Governor A....
- Magazine article from: The Bond Buyer Mercurio, Stephanie May 19, 2000 700+ words
...the project was in. The SEC will specifically investigate...budget, despite the fact Big Dig officials were aware of...will cooperate with the SEC's investigation. Other...a spokesman for the SEC, refused to comment on...Despite the inquiry, the Big Dig project will continue...
- SEC Sends Wells Notices Over Big Dig: Costs Concealed.
- Magazine article from: The Bond Buyer Peacock, Wayne Hume, Lynn July 19, 2001 700+ words
...Ted Williams Tunnel project. The SEC began the investigation into the project, commonly referred to as the Big Dig, after a $200 million bond sale by...notification. "The notice from the SEC is really nothing new," Strazzeri...
- Massachusetts Under SEC Scrutiny Over Cost Projections for 'Big...
- Magazine article from: The Bond Buyer Harris, Elizabeth February 15, 2000 700+ words
...Project that showed the "Big Dig" would cost $1.4 billion...Friday afternoon from the SEC's Boston office, said...not been contacted by the SEC, said Terry Brown, a Big Dig project spokesman. An SEC spokesman neither confirmed...
- SEC May Be Ready to Probe Massachusetts' Big Dig Executives.
- Newspaper article from: Knight Ridder/Tribune Business News September 6, 2002 700+ words
...of a $1.4-billion Big Dig cost overrun sent shock...recommendations by local SEC investigators could lead...attorney, said the SEC has no basis for pressing...anything to do with the Big Dig. And if anyone looks...between the Turnpike and the SEC could put an end to one...
- The MTA, the SEC, and the Big Dig Turnaround.
- News wire article from: The America's Intelligence Wire May 1, 2006 700+ words
...Amorello worked diligently to settle the SEC matter that had been brought against...the project, widely known as the "Big Dig," has been hitting all of its major...in a prudent and timely fashion, the SEC matter. The last review conducted by...
- UPDATE 2-SEC settles fraud charges over Boston 'Big Dig'.
- News wire article from: The America's Intelligence Wire July 31, 2003 700+ words
...costs related to the Boston "Big Dig" tunnel project. Former chairman...without admitting or denying the SEC's findings. The order bars...taxpayers, said Juan Marcelino, SEC district administrator. The SEC took into consideration in Kerasiotes...
- UPDATE 1-SEC settles fraud charges over Boston 'Big Dig'.
- News wire article from: The America's Intelligence Wire July 31, 2003 700+ words
...costs related to the Boston "Big Dig" tunnel project. Former chairman...without admitting or denying the SEC's findings. The order bars...taxpayers, said Juan Marcelino, SEC district administrator. The SEC took into consideration in Kerasiotes...
- Massachusetts Inspector General Alleges Cover-up in Big Dig Highway Project.
- News wire article from: Boston Globe (Boston, MA) March 21, 2001 700+ words
...had spoken to officials of the SEC, but he would not provide details...inspector general determined that Big Dig officials and the Weld and Cellucci...one in 1999 currently under SEC investigation." Late in 1999, Big Dig officials discussed the pros...
- Big Dig's Big Price Tag May Lead Lawmakers to Halt Federal Funds.(Brief Article)
- Magazine article from: The Bond Buyer Kinnander,Ola May 4, 2000 700+ words
...respond to reports that Big Dig officials have mishandled...and responsibility for the Big Dig. Secretary of Transportation...Officials did not mention the SEC inquiry at the hearing...took over as head of the Big Dig last month after his predecessor...