Construction kickback scheme inflated NYC tax bill: DA’s office

TRD New York /
Dec.December 19, 2013 12:11 PM

The Manhattan District Attorney’s Office indicted a purchasing agent for Unity Electrical Company who allegedly funneled millions of dollars to electrical supply companies. More than 15 companies and 17 people, some who have pleaded guilty, have been charged in the alleged construction kickback operation.

“As a result of kickback schemes like this one, New Yorkers are footing an inflated bill for public construction throughout the five boroughs,” District Attorney Cyrus Vance said in a statement.

Vance cited the New York Police Academy at 235 East 20th Street, JPMorgan Chase Tower at 270 Park Avenue, New York City Center at 131 West 55th Street, and JFK Airport in Jamaica, Queens, as examples of hefty tax bills for residents.

Syosset, N.Y., resident Donald Russo was accused of created a shell company known as Bar Electrical Company through which he received bribes, the New York Observer reported. Charges against him include grand larceny, falsifying business records, criminal tax fraud, offering a false instrument for filing, and commercial bribe receiving. [NYO]Mark Maurer


Related Articles

arrow_forward_ios
JPMorgan Chase CEO Jamie Dimon (Getty, iStock)

JPMorgan wants to invest $700M building rentals in Sun Belt states

JPMorgan wants to invest $700M building rentals in Sun Belt states
Companies are relying on surveys and other data points to determine who will come back to offices first. (iStock)

How do companies decide who should return to offices first? It’s tricky

How do companies decide who should return to offices first? It’s tricky
Deutsche Bank CEO Christian Sewing and Deutsche Bank's Manhattan headquarters at 60 Wall Street (Getty)

Deutsche Bank: Employees can stay home until mid-2021

Deutsche Bank: Employees can stay home until mid-2021
Jamie Dimon and 383 Madison Avenue (Getty, Google Maps)

JPMorgan suffers setback in return to office

JPMorgan suffers setback in return to office
Manhattan District Attorney Cyrus Vance and President Donald Trump (Getty, iStock)

Trump lawyers, resisting subpoena, demand more details of Manhattan DA inquiry

Trump lawyers, resisting subpoena, demand more details of Manhattan DA inquiry
Deutsche Bank CEO Christian Sewing and President Donald Trump (Sewing by Thomas Lohnes/Getty Images; Trump by Drew Angerer/Getty Images)

Deutsche Bank probed in Manhattan DA’s Trump Org investigation

Deutsche Bank probed in Manhattan DA’s Trump Org investigation
President Donald Trump and Manhattan District Attorney Cyrus Vance (Trump by BRENDAN SMIALOWSKI/AFP via Getty Image; Vance by Kevin Hagen/Getty Images)

Trump Org may be focus of broader fraud investigation by Manhattan DA

Trump Org may be focus of broader fraud investigation by Manhattan DA
JPMorgan Chase CEO Jamie DImon and 410 Madison Avenue (Getty Images, Google Maps)

JPMorgan Chase closes on $115M buy of Bank of China’s former HQ

JPMorgan Chase closes on $115M buy of Bank of China’s former HQ
arrow_forward_ios

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

Loading...