Top Bloomberg Executives to Be Charged in Construction Bribery Scheme

Over a dozen of Bloomberg L.P.’s top executives will be arrested Tuesday on fraud, bribery, and theft charges related to their alleged participation in a massive construction kickback scheme, according to a Monday report from The New York Times. In the alleged scheme, companies seeking to perform construction work at Bloomberg’s offices would give lavish bribes to executives at Bloomberg and Turner Construction, who would in turn fluff up the construction bill with superfluous charges, investigators said. Bloomberg told the Times that the scheme was perpetrated by rogue employees. “We thank the Manhattan district attorney’s office for uncovering this scheme,” a spokesman said. There is no evidence that owner Michael Bloomberg—who is reportedly mulling a 2020 presidential run—knew of the alleged activity.