CEO of steel company that did over $500 million of work on WTC is arrested on fraud charges

The Canadian owner of a company that won nearly $1 billion in contracts to provide steel for the construction of the World Trade Center's tallest building and an adjacent transit center has been arrested on fraud charges.

Larry Davis was released on $100,000 bail Thursday. His lawyer said he will fight charges of wire fraud and conspiring in a scheme to cheat a program that provided contracts to minority- and women-owned businesses.

Court papers said Davis from 2009 through 2012 caused false payroll records to be sent to the Port Authority of New York and New Jersey.

The government said a Davis-owned company was awarded a $256 million contract to work on the trade center building and $330 million to help construct the transportation center.