ALBANY, N.Y., June 29 (UPI) -- A company and its president pleaded guilty Tuesday to a kickback scheme involving roofing contracts in the Albany, N.Y., area.
The Justice Department said Waterblock Roofing and Sheetmetal Inc. and its president, Walter Vivenzio of East Berne, N.Y., each pleaded guilty to bid rigging and conspiracy to commit mail fraud.
The company and Vivenzio have agreed to cooperate with an ongoing investigation.
The complaint said from 1995 until 2002, the defendants and unidentified co-conspirators engaged in a conspiracy to rig bids and allocate roofing contracts awarded by the General Electric Co.'s Waterford, N.Y., facility, the Albany Medical Center and other purchasers of roofing products and services in the state.
Conviction of bid rigging carries a maximum penalty of three years and a $350,000 fine for an individual and a $10 million fine for a corporation for violations occurring before June 22. Mail fraud conspiracy carries a maximum penalty of five years, a $250,000 fine for an individual and a $500,000 fine for a corporation.