From the Daily News:
One of the worst frauds in New York history actually saved the “lucky” city money, Mayor Bloomberg boasted Friday.
Federal prosecutors have indicted 11 contractors and consultants in a $500 million rip-off involving the computerized CityTime payroll system.
But, since the U.S. attorney forced the main contractor, SAIC, to reimburse the city’s losses, taxpayers came out ahead, Bloomberg said.
“There was fraud,” Hizzoner conceded Friday on his weekly radio show,” but added, “We recovered most of the money ... that whole system cost us something like $100 million dollars and it should’ve been many times that.”
“We were lucky,” the mayor continued. “Because of the fraud, in the end, it turned out, that because of the recovery that we saved a lot of money.”