Senator Espada accused of using nonprofit’s funds for Bronx co-op

A nonprofit founded by State Senator Pedro Espada Jr. paid more than $50,000 over the past two years for a Bronx cooperative the elected official used to fulfill a residency requirement for his run for a seat in Albany, state Attorney General Andrew Cuomo has alleged in a complaint that accuses the elected official of using the nonprofit for his personal use.

Cuomo charged Espada and 19 additional executives with taking more than $14 million from the Bronx not-for-profit Comprehensive Community Development Corporation, known as Soundview, over five years.


Cuomo filed the civil complaint in New York State Supreme Court today.

Espada said in a statement that the allegations were unfounded and politically motivated. “We are turned upside down several times over — audited by and meeting regulations set by federal, state and local agencies,” he said.

Since January 2008, Soundview has paid more than $50,000 for the monthly maintenance and mortgage payments for the co-op apartment 4B at 325 East 201st Street, the office of the attorney general said in the complaint. Espada’s permanent residence is in Mamaroneck, in Westchester County, the filing said.

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Espada, who is president and CEO of Soundview, and his wife Connie bought the apartment in August 2007 for $225,000, city property records show. TRD