Colorado Cancels $103 Million BEAD Award After Probe Finds Host of Problems, Including Missing Funds
Colorado Broadband Office terminates Maverix Broadband’s BEAD grants and refers the case to the state’s Bureau of Investigation and U.S. Treasury Inspectors
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BEAD: Colorado canceled more than $100 million in federal broadband awards to Maverix Broadband, the Colorado Sun reported Sept. 21. Maverix received the second-highest number of state BEAD program locations, at about 10,232. It also was awarded the largest subsidy, at $103 million, or nearly 25% of Colorado’s BEAD program share. The Colorado Broadband Office said it terminated the company’s BEAD grants after an investigation found canceled invoices, unpaid contractors, and about $3.2 million in missing funds. “What we ended up finding in the enhanced monitoring was that Maverix had done this for more than just one vendor,” interim CBO director Alison Terry said. (More after paywall)
