Turner Construction, Bloomberg Targets of Fraud Investigation

New York state officials raided the offices of Bloomberg L.P. and Turner Construction as part of an investigation into a suspected $100 million of construction fraud. Investigators believe subcontractors paid rogue Turner and Bloomberg executives to secure work on the company's offices. Allegedly, Turner and Bloomberg executives also inflated costs of the contracts.

No arrests have been made, but some Bloomberg executives have been fired.

(more on the construction fraud investigation involving Bloomberg and Turner Construction...)