Caption

Close

The CEO and two other executives at LPCiminelli in Buffalo have resigned as the company looks to repair its image from the SUNY Polytechnic Institute scandal.

The Buffalo News reported the resignation of CEO Louis Ciminelli, along with Kevin Schuler and Michael Laipple. All three are facing federal bid-rigging charges connected to an alleged scheme to award SUNY Poly construction contracts worth hundreds of millions of dollars to LPCiminelli and other developers that had ties to two former aides to Gov. Andrew Cuomo.

All of the defendants in the case, including former SUNY Poly president Alain Kaloyeros, have denied any wrongdoing.

According to reporting by the Buffalo News, LPCiminelli is looking to repair its image and strengthen its corporate governance in the wake of the scandal. The company is the largest developer in Buffalo with many public sector clients that are wary of working with the company now.

Shares of the privately-held company that were owned by Louis Ciminelli have been put into a trust. That leaves his son Frank Ciminelli II in charge and the single largest shareholder outside of the trust.

Ciminelli also hired  Paul Moskal, a former FBI special agent to do a "risk assessment" on the company and develop a compliance program.

Our editors found this article on this site using Google and regenerated it for our readers.