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Former construction exec sentenced to 27 months, $18.7M in restitution for fraud

March 2, 2021

Patrick Lindsey, former executive with the now defunct MGT Construction in Richmond, Virginia, has been sentenced to 27 months in prison for his role in a five-year accounting fraud that, when discovered in 2016, revealed the contractor was not profitable but was about $28 million in debt. Because of this, MGT was forced to file bankruptcy in 2018, reporting only $50,000 in assets.

Lindsey started working for MGT in 2007 as an estimator, according to court documents, and the company promoted him to vice president of preconstruction services in 2013.

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