SEC Begins Formal Probe into Boston Road Project, Scrutinizes Bond Report.

Publication: The Boston Globe (Boston, Massachusetts) (via Knight-Ridder/Tribune Business News)

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COPYRIGHT 2000 The Boston Globe

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...

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