Friday, January 21, 2022

Former college facilities director pleads guilty to accepting $1 million kickback


A former maintenance director for American International College, Cornell University and other educational institutions has admitted to accepting nearly $1 million in kickbacks from hired contractors.

Floyd Young, of Shelton, Connecticut, pleaded guilty Monday in federal court in Springfield, Massachusetts, to one count of conspiracy and three counts of bribery in relation to programs receiving federal funds.

- Advertisement -

Young, 50, agreed to pay over $919,000 in restitution, and sentencing is scheduled for Feb. 1, according to a statement from U.S. District Attorney Andrew Lelling. Young faces a maximum of five years in prison, three years of supervised release and fines of up to $250,000.

A federal investigation found that Young conducted the scheme as the director of facilities management at Sacred Heart University in Fairfield, Connecticut; as vice president for campus services for American International College; as the director of facilities management at Cornell Tech, Cornell University in New York; and as the director of facilities management at the Cooper Union for the Advancement of Science and Art in New York, court records indicate.

“Young steered contracts for construction, repair, maintenance, and other work for the collegiate institutions to favored contractors who paid him bribes, typically in the amount of 15% of the contract. The contractors inflated the amount of the invoices submitted to the collegiate institutions in order to be repaid the cost of the bribe payment made to Young,” the statement said.

- Advertisement -


Get our daily notification on the latest financial crimes news around the World



This Week