The general contractor on the landmark Miami Panorama Tower is accused in a new lawsuit of failing to pay subcontractors on time, using project funds to beef up its own balance sheet and hiding its cash-flow issues from shareholders in the publicly traded company.

Developer Florida East Coast Realty says general contractor Tutor Perini eventually accounted for all the Miami Panorama Tower money—but not before diverting the funds to beef up its own balance sheet to the detriment of shareholders and potential investors.