U.S. Attorney Damian Williams made a strong statement about combating corruption in business, declaring that “corruption has no place in our business landscape.
Williams emphasized the defendants’ efforts to exploit the system for personal gain and lauded the convictions as a testament to the integrity of the legal process.
Williams specifically noted that Troy Caruso and John Nolan sought to quickly exploit the system for their own benefit, but today’s outcome shows that integrity will prevail. This underscores his commitment to upholding fair contracting practices.
Court records, including indictments and plea agreements, reveal that between early 2021 and September 2023, Caruso and Nolan conspired to bribe a senior project manager at a prominent real estate services firm. In exchange, the manager misused their position to secure lucrative contracts for Caruso and Nolan’s company.
At the center of the kickback scheme was an agreement to pay about one percent of any awarded contract’s value; for one $3.55 million project, this meant a kickback of roughly $35,500, of which $33,000 was actually paid.
The investigation, led by Special Agents and Task Force Officers of the Southern District of New York, with help from the FBI, uncovered these details. Prosecuted by Assistant U.S. Attorney Jane Kim from the Public Corruption Unit, this case highlights how covert bribes can distort a system designed to reward merit.
Sentencing is scheduled for February 12, 2025, for Caruso, with Nolan’s hearing set for the following day. While the offense of honest services wire fraud conspiracy carries a maximum 20-year sentence, the final sentencing will be determined by judicial discretion. This case sends a message to the business community that the justice system is actively working to combat corruption.