Wednesday, October 28, 2020

Ex-Turner Construction exec admits to tax evasion on bribes

-

A former vice president at Turner Construction has admitted evading taxes on $1.5 million in bribes, in a sprawling construction-fraud case.

The former Turner executive, Ronald Olson, was accused of taking bribes from subcontractors in return for work on projects at Bloomberg’s headquarters, according to Crain’s. He now faces up to five years in prison.

Olson was one of more than a dozen executives at Bloomberg L.P., Turner Construction and their subcontracting companies, who were implicated in the scandal, which came to light when Bloomberg’s offices at 730 Lexington Avenue were raided by officials in 2018.

Last Friday, Olson’s co-conspirator Michael Campana was sentenced to two years in prison for evading taxes on $420,000 in bribes. Charges against two construction managers, Anthony Guzzone and Vito Nigro, are pending.

- Advertisement -

Collectively, the four men were accused of evading taxes between 2010 and 2017 on about $5.1 million in bribes, which went beyond cash payments and into work on their personal homes, Superbowl tickets, and $75,000 to pay for Campana’s wedding and honeymoon, prosecutors said.

In July 2018, former Bloomberg facilities manager, Javier Paulino, pleaded guilty to taking bribes and stealing more than $1 million from the company by overcharging for interior work.

- Advertisement -
- Advertisement -

MUST READ

Beam Suntory Inc. fined $19.6 million in foreign bribery case

Beam Suntory Inc. (Beam), a Chicago-based company that produces and sells distilled beverages, has agreed to pay a criminal monetary penalty of $19,572,885 to...

Julius Baer to deny two former CEOs their bonuses over money laundering scandal

Julius Baer will withhold millions of francs in bonuses from its former chief executives Boris Collardi and Bernhard Hodler, as a result of a...

Goldman Sachs executives to cover part payments of $3 billion fines in 1MDB scandal

Nine current or former Goldman Sachs executives, including CEO David Solomon, will have to pay back hundreds of millions of dollars in compensation over...

Goldman Sachs agrees $3 billion settlement with US DoJ over 1MDB corruption scandal

Goldman Sachs has agreed to pay nearly $3bn (£2.3bn) in the US to end a probe of its role in Malaysia's 1MDB corruption scandal. The...

Hong Kong fines Goldman Sachs $350 million over 1MDB scandal

Goldman Sachs ignored multiple red flags over the multibillion-dollar fundraisings it arranged for state fund 1Malaysia Development Berhad, Hong Kong’s financial regulator said on...

Subscribe For More

Get our daily notification on the latest financial crimes news around the World

Advertisement
Advertisement

Latest News

This Week

Former Blue Bell Creameries CEO indicted for fraud linked to 2015 listeria outbreak

The former president and CEO of Blue Bell Creameries L.P., a Texas ice cream company, was indicted Tuesday on wire fraud charges in connection with a scheme...

Newark city councilman charged in bribery and kickback scheme

Joseph A. McCallum Jr., a city councilman in Newark's West Ward, has been accused of taking part in a "bribery and kickback" scheme involving...

Former Columbus mayor Eisenga charged with bank fraud

A former Columbus mayor and businessman who was once at the center of a controversial bill aimed at reducing child support payments for wealthy...

Swiss court upholds money-laundering conviction of ex-Ukrainian lawmaker Martynenko

A Swiss court has upheld the conviction of former Ukrainian lawmaker Mykola Martynenko for laundering via Swiss banks millions of dollars worth of kickbacks...
Advertisement

Adblock Detected!

Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by whitelisting our website.

Enable Notifications    Ok No thanks