Former Bloomberg Executives to Be Charged in Construction Fraud Scheme

More than 18 months ago, the Manhattan district attorney’s office opened yet another investigation into fraud in the city’s $62 billion construction industry, this one involving Bloomberg L.P., the financial information and media company owned by former Mayor Michael Bloomberg, who is considering running for president in 2020.

As investigators peeled back the complex layers of contracts, contacts and under-the-table favors between electrical contractors, vendors and corporate executives they made a startling discovery: It was an inside job.

On Tuesday, the district attorney and the State Police are expected to arrest more than a dozen executives, including senior executives in New York of Bloomberg’s global construction and facilities department, on fraud, theft and bribery charges, according to one executive briefed on the investigation and defense attorneys. read more »

The Madoff Players: Where Are They Now?

Ten years after the massive Ponzi scheme collapsed, here’s the cast of characters — from felons and family to the big investors — and what they’re up to. read more »

Three Broker-Dealers to Pay More Than $6 Million in Penalties for Providing Deficient Blue Sheet Data

The Securities and Exchange Commission today announced that three broker-dealers have agreed to pay more than $6 million to settle charges for providing the SEC with incomplete and inaccurate securities trading information in required SEC productions known as “blue sheet data,” which the SEC uses to carry out its enforcement and regulatory obligations, including the investigation of insider trading and other fraudulent activity. read more »

Texas Businessman Pleads Guilty to Conspiracy to Obstruct Justice in Connection with Venezuela Bribery Scheme

A former procurement officer of Venezuela’s state-owned and state-controlled energy company, Petroleos de Venezuela S.A. (PDVSA), pleaded guilty today for his role in a scheme to obstruct an investigation relating to bribes paid by the owner of U.S.-based companies to Venezuelan government officials in exchange for securing additional business with PDVSA and payment priority on outstanding invoices. read more »