Worley & Obetz trustee: Lyons led $2B fraud overlooked by ‘negligent’ management

Former Worley & Obetz CEO Jeffrey B. Lyons and former controller Karen L. Connelly were arrested in August. - (Photo / Submitted)

Former Worley & Obetz CEO Jeffrey B. Lyons, along with former controller Karen L. Connelly and her successor Judith A. Avilez, orchestrated a $2B fraud by creating false company revenues, LNP reported Wednesday.

Christine C. Shubert, the trustee overseeing the defunct energy company’s bankruptcy proceedings, announced the allegations on Monday.

Read LNP’s full report here.

Since June, Schubert has been actively trying to find a way to pay off the company’s many debtors, including four Pennsylvania banks.

CPBJ Business Events

2019 Reader Rankings Awards

Wednesday, June 19, 2019
2019 Reader Rankings Awards

2019 Women of Influence

Monday, June 24, 2019
2019 Women of Influence

2019 Real Estate & Development Symposium

Wednesday, August 07, 2019
2019 Real Estate & Development Symposium

2019 Top 50 Fastest Growing Companies

Monday, September 09, 2019
2019 Top 50 Fastest Growing Companies