Execs At Michael Bloomberg’s Company Expected To Be Arrested For Fraud – IOTW Report

Execs At Michael Bloomberg’s Company Expected To Be Arrested For Fraud

DC: The Manhattan district attorney’s office and New York state police are expected to arrest several senior executives in former New York City Mayor Michael Bloomberg’s finance company on fraud charges Tuesday, The New York Times reported.

The executives are expected to be a part of a larger arrest of roughly a dozen senior executives spanning several companies involved in New York real estate and development. The district attorney’s office launched a new investigation into New York’s $62 billion construction industry, including the construction and facilities department of Bloomberg L.P., in 2017.

Investigators uncovered a pay-to-play scheme in which subcontractors and vendors doing work on Bloomberg company offices would offer bribes and kickbacks to Bloomberg executives. In exchange, the Bloomberg executives would pay more for the work done, defrauding Bloomberg L.P. for millions.

Investigators found no evidence Bloomberg was aware of the alleged fraud.

Bloomberg’s charity group Bloomberg Philanthropies did not immediately respond to a request for a comment.  more

12 Comments on Execs At Michael Bloomberg’s Company Expected To Be Arrested For Fraud

  1. Waiting for headline about Trump having attended a wedding with one of the indicted.

    My headline would point out Trump is not among the indicted New York City developers.

    5
  2. The TV news in the Great White North is that Trump is going to be impeached and sent to prison. Firing squad and being boiled in oil strongly implied.

    Don’t you just love the MSM?

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