Court OKs $5.6M Sale Of Indicted Engineering Firm
A California firm has completed its acquisition of a New Jersey engineering company that recently admitted making illegal campaign contributions.
The sale of Birdsall Services Group to Torrance-based Partner Engineering and Science was finalized Friday. It paid $5.6 million for most of Birdsall's assets.
The sale was formally approved this month in U.S. Bankruptcy court.
The closing came less than a week after Eatontown-based Birdsall entered guilty pleas in state Superior Court to charges of money laundering and making false representations for government contracts. It was fined $1 million and banned from working on government contracts in the state for 10 years.
Seven former top Birdsall executives still face charges of conspiring to avoid the state's pay-to-play law by disguising illegal corporate political contributions as personal contributions of employees.
(Copyright 2013 The Associated Press. All Rights Reserved)
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