State prosecutors on Wednesday charged six property developers and their companies with taking advantage of a lucrative tax break intended to spur housing construction, as part of the Manhattan district attorney’s new focus on fighting misconduct in the real estate industry.
The developers — Joel Kohn, Michael Ambrosino, Alen Paknoush, Mendel Gold, Ioan Sita and Gheorghe Sita — were charged with submitting false documents to New York City and State, violating the terms of a much-debated tax program that played a major role in shaping development in New York City over the past 50 years.
The prosecutors, along with the city’s Department of Investigation, accused the six developers of having rented apartments out at higher rates than they had pledged, together earning more than $1.6 million in property tax benefits in the process.
6 N.Y.C. Landlords Prosecuted for Overcharging Tenants
- by: Jonah E. Bromwich
- 10-19-2022
- Source:
The New York Times
- 10/20/2022
New York Apartments by Goh Rhy Yan is licensed under Unsplash unsplash.com
New York Apartments by Goh Rhy Yan is licensed under Unsplash unsplash.com
Help FAIRtax Become The Number One Issue in 2024
Enacting the FAIRtax must be a prominent topic in these times. We did it before, we can do it again, but we need your help!