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Article: Massachusetts Under SEC Scrutiny Over Cost Projections for 'Big Dig'.(Statistical Data Included)
- Article from:
- The Bond Buyer
- Article date:
- February 15, 2000
- Author:
CopyrightCOPYRIGHT 2000 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The Securities and Exchange Commission is looking into whether Massachusetts officials knew about new cost projections for the Central Artery Project that showed the "Big Dig" would cost $1.4 billion more than previously reported and failed to disclose those estimates before a December bond sale.
The Massachusetts treasurer's office received notice of the inquiry Friday afternoon from the SEC's Boston office, said Dwight Robson, a spokesman with the office. He declined to comment on the timeframe or scope of the inquiry. So far, the Massachusetts Turnpike Authority has not been contacted by the SEC, said Terry Brown, a Big Dig project spokesman.
An SEC ...