Indo-American couple in 460 mn scam

A grand jury said on Monday that more than USD 600 million of the project8217;s bloated budget is 8220;tainted8221; by fraud.

The couple secured a lucrative,no-bid subcontract for the CityTime that made it look like their firm,TechnoDyne,was 8220;a successful and fast-growing company,8221; the New York Post reported.

But the 8220;engine of its growth8221; was actually an overbilling scam in which the Allens paid out more than USD 15 million in kickbacks and hired a bevy of crooked subcontractors,according to the indictment unsealed in Manhattan federal court.

Authorities say the brazen corruption was part of a 8220;massive and elaborate scheme8221; involving high-ranking executives at prime contractor Science Applications International Corp who pocketed USD 5 for every hour worked by 300-plus consultants.

CityTime was initially budgeted at USD 63 million,but has cost taxpayers more than USD 720 million to date.

Manhattan US Attorney Preet Bharara called the alleged scam 8220;truly jaw-dropping8221; and 8220;epic in duration,magnitude and scope.8221;

Bharara said prosecutors were seeking to have the Allens extradited from their native India,where they fled in February after getting slapped with grand-jury subpoenas.