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

New York /
Apr.April 20, 2010 05:49 PM
 

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.


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


Related Articles

arrow_forward_ios
Governor Andrew Cuomo and Senator James Skoufis (Credit: Getty Images, NY Senate)

Owners of some residential properties can’t hide behind
LLCs anymore

Owners of some residential properties can’t hide behind
LLCs anymore
Governor Andrew Cuomo and 538 Johnson Avenue in Brooklyn (Credit: Google Maps and Getty Images)

Landlords take another hit: Cuomo signs expanded Loft Law

Landlords take another hit: Cuomo signs expanded Loft Law
Governor Andrew Cuomo (Credit: Getty Images)

Cuomo wants to exempt NYC from prevailing wage bill

Cuomo wants to exempt NYC from prevailing wage bill
Mayor Bill de Blasio and Governor Andrew Cuomo (Getty)

Real estate braces for new restrictions as virus cases surge

Real estate braces for new restrictions as virus cases surge
Chestnut Holdings president Jonathan Wiener (Photos via iStock; The Westchester Bank)

State investigation takes issue with faulty lease riders

State investigation takes issue with faulty lease riders
Gov. Andrew Cuomo (Getty)

Cuomo imposes new Covid-19 restrictions on restaurants, gyms

Cuomo imposes new Covid-19 restrictions on restaurants, gyms
(Getty, iStock)

NYC movie theaters to Cuomo: Let us reopen

NYC movie theaters to Cuomo: Let us reopen
From left: Related chairman Stephen Ross, LeFrak CEO Richard LeFrak and President Donald Trump (Getty)

Four things Biden could do for New York real estate that Trump didn’t

Four things Biden could do for New York real estate that Trump didn’t
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...