October 23, 2014

Another Investigation Sparked at PBS&J

Amy Keller | 1/8/2010
The PBSJ Corp., a Tampa-based architecture, engineering and construction firm, is conducting an internal investigation into whether a subsidiary broke the law in pursuing projects overseas.

The $618-million, employee-owned company disclosed the investigation in a Dec. 30 filing with the Securities and Exchange Commission. In the filing, it told the SEC it could not file its required year-end annual report for 2009 on time because the audit committee of its board of directors was seeking “to determine whether any laws have been violated, including the Foreign Corrupt Practices Act, in connection with certain projects undertaken by PBS&J International Inc., one of the company’s subsidiaries, in certain foreign countries.”

In the filing, PBSJ stated that it had “self-reported” the circumstances surrounding the investigation to the Securities and Exchange Commission and the Department of Justice and “will cooperate fully” should the SEC or DOJ decide to conduct its own investigation.

Speaking on behalf of the company, C.L. Conroy, president and partner of a Miami public relations firm, said she could provide no other details. “The [SEC] filing gave everything we can talk about. You know how an investigation goes. They have to take their time and be thorough,” said Conroy.

She said it is unclear when the company — which for the past several years has been recovering from an embezzlement scheme that cost it $36 million — might wrap up the inquiry.

News of the investigation comes just weeks after federal officials finally closed the book on another case involving alleged violations of federal election laws via a campaign contribution reimbursement scheme orchestrated by former company officials. That case ended in deadlock, with members of the Federal Election Commission voting 3-3 not to approve FEC staff recommendations that cited violations of federal law.

SEC filing

From Trend: Fresh start for PBS&J

Tags: Tampa Bay, Housing/Construction

Digital Access

DIRECT DIGITAL ACCESS
Add digital to your current subscription, purchase a single ditgital issue, or start a new subscription to Florida Trend.

TABLE OF CONTENTS
An overview of the features and articles in this month's issue of Florida Trend.

ACCESS THIS ISSUE »

Florida Business News

Florida Trend Video Pick

Gasoline Prices: Why Are They Going Down Now?
Gasoline Prices: Why Are They Going Down Now?

Gasoline prices in the U.S. are the lowest they've been in four years. Why?

Earlier Videos | Viewpoints@FloridaTrend

Ballot Box

Jeb Bush has said he'd accept tax increases as long as they are paired with federal spending cuts. This stance runs counter to conservatives who oppose tax hikes. Is Bush right?

  • Yes - raising taxes should be considered
  • No - there's enough money, need to manage it better

See Results

Ballot Box
Subscribe