The Commission stated: "This case involves financial reporting and accounting fraud at Granite Construction, Incorporated (“Granite”), an infrastructure-construction company based in Watsonville, California. Granite’s largest civil engineering projects, which included the construction of highways, bridges, and mass transit centers, were organized together in a single group, the Heavy Civil Group, and overseen by Dale Swanberg, who served as the group leader and senior vice president from 2017 through October 2019. In order to conceal the deteriorating performance of his group, Swanberg engaged in a fraudulent scheme to improperly defer the recording of cost increases on his projects."