Ill. Co. Owner Gets Probation For Inflating City Contract Prices

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Law360 (April 6, 2021, 9:06 PM EDT) — A holding company owner who admitted to lying about price increases to fraudulently inflate his profits in contracts with the city of Chicago was sentenced to two years of probation Tuesday in Illinois federal court.

U.S. District Judge Gary Feinerman imposed the sentence on McClendon Holdings LLC owner John McClendon about five months after he pled guilty to a wire fraud charge he faced over claims he lied about price creases for about two years to increase profits under a five-year, $11.7 million butterfly valve supply contract and a five-year, $1.45 million pavement marking supply contract his company had been awarded…

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