Former Housing Preservation official: I took $2.5M in bribes

Wendell Walters pleads guilty to, among other things, extortion and racketeering

New York /
Mar.March 18, 2014 05:30 PM

Former Housing Preservation and Development Department assistant commissioner Wendell Walters admitted yesterday in Brooklyn Federal Court that he received $2.5 million in bribes from affordable housing developers and contractors during his 13-year career.

Walters, who served during the Bloomberg administration, was arrested in 2011 for charges of racketeering, bribery, wire fraud, money laundering and extortion.

Since his arrest, he has acted as a cooperating witness for the government and testified against three members of SML Development.

Walters pleaded guilty to one count of bribery and racketeering, respectively, and has testified in exchange for leniency. In his testimony, Walters confessed to taking bribes on several occasions, including a paid trip to Jamaica and a $2,000 payoff stuffed into a cigar box, the Wall Street Journal reported.

He also stated that he accepted a $250,000 kickback from a contractor in exchange for the contractor’s firm being chosen to work on two city-funded projects, the report stated. [Wall Street Journal]Sasha von Oldershausen


Related Articles

arrow_forward_ios
A rendering of 165 Broome Street (Credit: Handel Architects)

Nonprofit plans affordable housing development near Essex Crossing

Nonprofit plans affordable housing development near Essex Crossing
All Falls Down: Kanye West’s “Star Wars”-themed affordable housing plan hits snag

All Falls Down: Kanye West’s “Star Wars”-themed affordable housing plan hits snag

All Falls Down: Kanye West’s “Star Wars”-themed affordable housing plan hits snag
Almanac Realty Investors managing director Matthew Kaplan (Almanac Realty; iStock)

Workforce housing investor gets $320M boost

Workforce housing investor gets $320M boost
Kirk Goodrich, president of Monadnock Development, is opposed to the bill sponsored by Bran Lander. (Getty, Monadnock Development)

Council bill favoring nonprofits for affordable housing will hurt minority-led firms: developers

Council bill favoring nonprofits for affordable housing will hurt minority-led firms: developers
Ray McGuire photographed by Axel Dupeux.

The Closing: Ray McGuire

The Closing: Ray McGuire
Belveron Partners founder Paul Odland with 2000 Valentine Avenue (left) and 1985 Webster Avenue in the Bronx (Photos via Google Maps; Twitter)

Belveron Partners closes $280M fund for affordable housing

Belveron Partners closes $280M fund for affordable housing
City Council members Brad Lander (right) and Robert Cornegy

Lander seeks to keep for-profit developers from acquiring city-owned land

Lander seeks to keep for-profit developers from acquiring city-owned land
Cea Weaver and Public Advocate Jumaane Williams (Getty; Weaver via Elijah Stevens)

“Cancel rent” housing activist tapped for City Planning Commission

“Cancel rent” housing activist tapped for City Planning Commission
arrow_forward_ios

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

Loading...