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The Manhattan District Attorney’s office and New York state police are expected to slap charges of fraud, theft and bribery on more than a dozen former executives at Bloomberg and other companies for allegedly awarding expensive construction projects to contractors seeking to work on Bloomberg offices, the New York Times' Charles Bagli reports.

The details: "Subcontractors and vendors are accused of paying bribes and kickbacks in various forms over nearly four years to executives at Bloomberg and to two executives at Turner Construction, a general contractor that oversaw work at Bloomberg. The executives at Bloomberg and Turner and the vendors would then pad the bills for the work, raising the cost by millions of dollars for Bloomberg," Bagli write.

Sources with knowledge of the investigation told the Times that there’s no evidence that Mike Bloomberg knew of the scheme.

What they're saying: Spokespersons for Bloomberg and Turner reportedly said that both companies were victims of fraud: "We thank the Manhattan district attorney’s office for uncovering this scheme," Ty Trippet, a Bloomberg spokesman, told the publication.

  • The Manhattan DA's office declined to provide comment on the probe to the Times.

The backdrop: In February, the Times reported that state police and investigators raided Bloomberg headquarters and the Turner Construction offices in Manhattan in 2017, demanding access to the officers and records and emails of some senior executives.

Take note: BuzzFeed News' Mike Hayes also reported that sources say four former employees at Bloomberg will be indicted, including former global head of construction, Anthony Guzzone. The report added that three former employees of Turner Construction were charged and one reportedly made a plea deal.

Editor's note: The headline and first sentence of this story has been corrected to say that the people being charged were former Bloomberg executives and people from other companies are also being charged.

Go deeper

Mike Allen, author of AM
2 hours ago - Politics & Policy

GOP senator calls for senility test for aging leaders

Photo: "Axios on HBO"

Sen. Bill Cassidy (R-La.), a physician, told me during an "Axios on HBO" interview that he favors cognition tests for aging leaders of all three branches of government.

Why it matters: Wisdom comes with age. But science also shows that we lose something. And much of the world is now run by old people — including President Biden, 78 ... Speaker Pelosi, 81 ...  Senate Majority Leader Chuck Schumer, 70 ... and Senate Minority Leader Mitch McConnell, 79.

Ina Fried, author of Login
2 hours ago - Technology

Intel CEO blames predecessors for manufacturing woes

Axios on HBO

When it comes to Intel's recent manufacturing problems, Intel CEO Pat Gelsinger places the blame squarely on his predecessors — many of whom he notes were not engineers deeply steeped in chip technology, as he is.

Why it matters: Gelsinger has announced a broad plan to reinvigorate Intel by doubling down on manufacturing. However, the strategy depends on the venerable semiconductor giant recovering from recent stumbles.

Marketing to Generation Alpha

Illustration: Rae Cook/Axios

Marketers are pouring money into figuring out the tastes and habits of Generation Alpha — kids born from 2010 through 2024 — who are unprecedented in the extent they're growing up online.

Why it matters: They're weaned on TikTok, Amazon and in-app purchases. They're learning from their millennial parents to hold brands accountable for causes like social justice and sustainability. And no prior age cohort will be as large in size or marketing power.