Manhattan District Attorney Alvin Bragg announced multiple indictments against six real estate developers accused of falsifying records about apartments legally designated as affordable in order to reap the benefits of a controversial tax incentive.
Make your contribution now and help Gothamist thrive in 2022.Manhattan District Attorney Alvin Bragg announced multiple indictments on Wednesday against six real estate developers accused of falsifying records about apartments legally designated as affordable in order to reap the benefits of a controversial tax incentive.
“This illegal activity was perpetuated for years because the developers filed false paperwork to the city and state indicating falsely that they were following all appropriate guidelines,” Bragg said. It’s the latest blow from local law enforcement to beneficiaries of 421-a, who have since been accused of wrongdoing. It is also believed by Bragg’s office to be the first criminal tax fraud case under the program.
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