MarCon sold to satisfy forfeiture order

jsowell@idahostatesman.comFebruary 28, 2014 

A Boise company with more than 50 years of experience building bridges, dams, highways and other structures has bought Meridian concrete barrier company MarCon Inc.

Concrete Placing Co., founded in 1962, bills itself as the "largest and most-respected bridge builders in the state of Idaho," according to the company's website.

Mike Burke, the company's chief financial officer, confirmed the purchase Friday, but declined further comment.

The $3.1 million sale of MarCon was announced Thursday during a sentencing hearing for former MarCon president Elaine Martin, 67. She was sentenced to seven years in federal prison following her conviction on 22 counts of mail fraud, wire fraud, conspiracy and filing tax returns.

The sale price matches the amount Winmill ordered Martin to forfeit as a result of the profits she received on 33 highway projects. Martin lied about her assets to make her eligible for projects earmarked for disadvantaged businesses.

The sale does not include the MarCon headquarters at 1881 W. MarCon Lane in Meridian. It is owned by Martin Swigert LLP, a company formed by Martin and Darrell Swigert, Martin's former boyfriend and a co-defendant in the fraud case.

The building and nearly 14 acres of land are valued at $2.1 million, according to the Ada County Assessor's Office.

In July, Tory Martin, Elaine Martin's son, was named the registered agent for Martin Swigert. He also took over as president of MarCon and several affiliated companies after his mother stepped down last year.

Elaine Martin owned nearly 70 percent of MarCon, with Swigert and Tory Martin, having minority ownership in the company.

Swigert was convicted of obstruction of justice for helping Martin cover up her crimes. He is scheduled to be sentenced March 19.

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