Bloomberg Sues Former Employee For Losses In Embezzlement Scheme

SPECIAL REPORT

NEW YORK--As Inside Market Data was going to press last week, it was revealed that Bloomberg has filed suit against a former employee for embezzling millions of dollars from the company.

The suit accuses Joseph Menno, Jr., a former operations manager at Bloomberg's data collection center in Princeton, NJ, and six other people, including his brother John Menno, of setting up a scheme to markup invoices and pocket the difference.

A spokesperson for Bloomberg declined to comment. But according to