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Insulation contractor executive pleads guilty to antitrust, fraud charges

A contractor has pleaded guilty for his role in multiple schemes to rig bids.  The Department of Justice says Michael S. Flynn of Ridgefield violated antitrust laws and engaged in criminal fraud on insulation contracts.  This is the second conviction in an ongoing investigation. 

According to court documents, Flynn conspired with others on contracts at universities, hospitals, and other public and private entities in Connecticut, New York, and Massachusetts.  They discussed prices and agreed on bids that inflated prices to their customers by at least 10%. 

The Department of Justice called it a $45-million scheme to cheat businesses and other institutions.

In addition to his guilty plea, Flynn has agreed to pay restitution to the victims and to resolve civil forfeiture cases.  He agreed to settle the pending forfeiture action on his home for $327,500 and to forfeit all of his seized bank accounts.