La. Developer Admits To Stiffing Feds On Katrina Contract

Law360, New York (August 21, 2013, 2:18 PM EDT) -- A New Orleans developer has copped to stealing funds reserved for monitoring repairs of rental properties damaged by Hurricanes Katrina or Rita, admitting to overcharging the U.S. government on a subcontract and using payments for unrelated work, authorities said Tuesday.

Praveen Kailas, 30, pled guilty Aug.1 to theft of government funds and conspiracy charges for his role in a scheme that overbilled the government $236,000, according to court documents made public Tuesday. Kailas overstated how much time his company, Lago Construction LLC, spent on a subcontract...
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