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Tim Leiweke to Step Down as OVG’s CEO After Being Criminally Indicted for Bid-Rigging
Tim Leiweke will step down as Oak View Group's CEO after he was indicted for bid-rigging related to OVG's contract to build Austin's Moody Center.
On Wednesday (July 9), a federal grand jury in the U.S. District Court for the Western District of Texas returned an indictment against Leiweke, alleging he orchestrated a “conspiracy to rig the bidding process for an arena at a public university in Austin, Texas.” Authorities say Leiweke conspired with the chief executive of Legends Hospitality to rig the bidding for the construction and management of Austin’s $338 million, 19,000-seat Moody Center. U.S. attorney Justin R. Simmons for the Western District of Texas added, “Unfair business practices, like those employed here, make it very difficult for the American people to pursue prosperity like our founders intended,” before noting, “we will do all we can to ensure those who engage in the type of conduct described in this case are held to account.” In his letter to staff, Leiweke acknowledged that OVG did reach a settlement with the DOJ, writing, “I am pleased that the company fully resolved those inquiries with no admission of fault or wrongdoing whatsoever.
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