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BROOKLYN, NY-Construction giant Lend Lease (US) Construction LMB Inc. has entered into a deferred prosecution agreement with federal prosecutors, and will pay up to $56 million in penalties after admitting that it fraudently overbilled public and private clients over a 10-year period, according to documents filed Tuesday in US District Court here. In a related case, James Abadie, the former principal of Lend Lease’s New York office, pleaded guilty to charges of conspiring to commit mail and wire fraud in connection with the overbilling, and faces up to 20 years in prison. Abadie’s attorney, Stephen E. Kaufman, did not respond to GlobeSt.com’s request for comment by deadline Wednesday.

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