A 41-year-old Fort Worth man arrested in March owns the bonding company that cost the New Orleans-based low bidder a contract to build a new $35 million terminal at Monroe Regional Airport.
George Douglas Black Sr. was arrested March 26 on a federal mail fraud charge. Investigators say he allegedly sold more than $25 million dollars worth of worthless construction bonds around the country through Infinity Surety Co.
The News-Star reports that’s the company that had bonded a bid by EnviroTech Services LLC of New Orleans.
The city rejected EnviroTech’s bid after the city attorney said that property offered as collateral by Infinity was worth $235,000 rather than the $1.75 million required for the bond.
The Louisiana Department of Insurance filed a lawsuit in late December alleging Infinity Surety sold bogus bonds for bids on the Monroe airport expansion project, a $51 million project at a high school in New Orleans, a $6.9 million project for a community center in Plaquemines Parish and other projects.
Federal prosecutors in Texas say Black is not licensed or registered to sell securities.
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