Bloomberg LP executives, building contractors arrested in alleged kickback scheme [View all]
Rogue executives from Bloomberg LP conspired with building contractors on Manhattan projects to steal $15 million by inflating bids, generating phony work orders and misappropriating other cash, the Manhattan district attorney’s office said Tuesday.
The alleged conspiracy, lasting from May 2011 to October 2017, involved at least 14 people — including three from Long Island — and three companies doing work on 120 Park Ave. and 919 Third Ave., according to the district attorney’s office. The companies named are Hugh O'Kane Electric and Litespeed Electric, both of Manhattan, and Cooling Guard Mechanical of Middle Village, Queens.
“New York’s sky-high construction costs are driven not only by market demand, but by pay-to-play industry corruption that makes it impossible for honest companies to compete,” the district attorney, Cy Vance, said in a press release.
The projects involved interior office space for Bloomberg LP, the media company owned by former New York City Mayor Michael Bloomberg, who is reportedly considering running in 2020 for president of the United States.
Read more: https://www.newsday.com/news/new-york/bloomberg-lp-executives-building-contractors-arrested-in-alleged-kickback-scheme-1.24463131
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