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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.
- New SEC chair sits well with Big Dig.(Business)
- Newspaper article from: The Boston Herald Macero, Cosmo, Jr. January 25, 2002 700+ words
...now 2-year-old SEC probe into disclosure of Big Dig cost overruns...focus, if any, the SEC is putting on reports...Parsons - the Big Dig's general contractor...disclose it." The Big Dig's chief financial...Ladd, says former SEC municipal securities...
- Sources say SEC probe of Big Dig intensifying.(News)
- Newspaper article from: The Boston Herald Macero, Cosmo, Jr. March 24, 2000 700+ words
...of crucial data on Big Dig overruns from a state...familiar with the SEC inquiry said it...To be sure, the Big Dig has assigned one of...documents for the SEC's informal inquiry...Brien has said if the SEC finds Big Dig officials failed to...
- Sources: SEC eyed punishment for Big Dig officials.(News)
- Newspaper article from: The Boston Herald Hanchett, Doug Weber, Dave September 7, 2002 700+ words
...two-year probe into Big Dig cost overruns say SEC investigators in Boston...Kerasiotes and former Big Dig project manager Patrick...standard policy, the SEC wouldn't comment on...even investigated the Big Dig. But Mike Kendall...
- Turnpike chief: We won't run from SEC probe of Big Dig.(News)
- Newspaper article from: The Boston Herald Macero, Cosmo, Jr. July 19, 2001 700+ words
...what you tell him." The SEC, following a yearlong...Pike itself and former Big Dig officials James J. Kerasiotes...who helped create the SEC's enforcement division...staff for the Pike and the Big Dig, said agency lawyers...working on a response to the SEC. Poverman said ...
- 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...
- 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...
- Natsios promises changes to Big Dig insurance plan.(News)
- Newspaper article from: The Boston Herald Macero, Andrew Miga Cosmo, Jr. Brown, Laura April 15, 2000 700+ words
...discussion." With the Big Dig's financial mess drawing...launched a probe into whether Big Dig officials misled investors...secretary had questioned the SEC's authority over such...federal approval for its Big Dig financial plan. Additional...