According to the RealDeal, Lawrence Wecker, an 83-year-old construction executive, and his company JM3 Construction have pleaded guilty to charges related to fraud in their collaboration with minority and women-owned businesses (MWBEs). Wecker paid certified MWBEs to secure contracts for government-subsidized affordable housing projects, which required a percentage of the work to be performed by MWBEs. However, prosecutors revealed that JM3 falsified business records to create the illusion of MWBE involvement while conducting the work themselves and employing non-qualifying firms. The case involves high-profile projects in Manhattan, including the National Urban League and L+M Development Partners' apartment building. Wecker now faces the likelihood of imprisonment.