A man from Connecticut found himself behind bars yesterday for lining his pockets with nearly a million bucks in dirty money at the expense of school coffers. Floyd Young, a 53-year-old from Shelton, was handed an eight-month prison term after admitting to raking in over $900k in bribes from contractors.
In a scheme that pilfered from the budget of three colleges, Young served up fat contracts to companies that kicked back a 15% cut to him, as detailed by the U.S. Attorney's Office. The contractors, smearing icing on their inflated invoices, ensured they were compensated for the backhanded payments to Young.
Appointed to watch over facility upkeep at various schools, including American International College, Young funneled work to his hand-picked builders and fixers, who routinely dished out cash bribes. These corrupt dealings often culminated in so-called no-work invoices which Young and the contractors coolly split, betraying the academic institutions they pledged to service.
Alongside the prison stint, Judge Mark G. Mastroianni threw the book at Young with twin orders for restitution and forfeiture – each to the tune of $919,066, the green he'd snagged from the scheme. After pleading guilty to his dirty deeds in August 2020, these financial penalties are now added to Young's tab, according to the U.S. Attorney's Office.
After pleading guilty back in August 2020, the crooked facilities man now faces not just time in the clink but also a hit to his wallet, directed by Judge Mastroianni to reimburse the colleges every penny, according to Acting United States Attorney Joshua S. Levy's announcement. The Federal Bureau of Investigation's Jodi Cohen, running point on the Boston Division, cracked down on the case together with Assistant U.S. Attorney Steven H. Breslow of the Springfield Branch Office, who slung the legal lasso that snagged Young.
