Transit Village developer admits to taking kickbacks

Michael Masanoff (far right) with Palm Beach County politicians
Michael Masanoff (far right) with Palm Beach County politicians

The former chairman that oversaw Tri-Rail and a $300 million, six-acre downtown development admitted under oath to accepting $100,000 in kickbacks.

On Wednesday, attorney Michael Masanoff told a jury he played both sides of the real estate deal by helping developers Edward and Arthur Falcone purchase an 18-acre cemetery in Boca Raton from two widows he previously represented, according to the Palm Beach Post.

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The Falcones paid $6.1 million for Heritage Manor Memorial Park — renamed The Gardens Memorial Park. But attorneys claim the cemetery land was worth as much as $40 million.

“Did you breach your fiduciary obligation?” attorney Michael Avenatti asked Masanoff. “Yes,” Masanoff answered. [PBP] – Christopher Cameron