Ex-SUNY president gets 3.5 years in prison for role in “Buffalo Billion” scheme

He is last to be sentenced in connection to the program

TRD New York /
Dec.December 12, 2018 10:45 AM

Alain Kaloyeros (Credit: lohud via Twitter)

Gov. Andrew Cuomo’s point person on the “Buffalo Billion” program, Alain Kaloyeros, was sentenced to three and a half years in prison for his role in a multi-million dollar bid rigging scheme.

Kaloyeros, former head of SUNY Polytechnic Institute, had been convicted of wire fraud and wire-fraud conspiracy in July. He was accused of helping steer $855 million in state contracts in Buffalo and Syracuse to LPCiminelli and Cor Development, major donors to Cuomo, the Times Union reported.

“[Kaloyeros] let his desire to earn brownie points with the executive chamber overcome the normal well-thought-out processes that treated all developers fairly, whether they were giving money to Cuomo campaign coffers or not,” Judge Valeri Caproni said.

The governor isn’t accused of any wrongdoing.

Last week, Caproni sentenced three others in the “Buffalo Billion” scheme: Syracuse executives Steven Aiello and Joseph Gerardi to three years and two-and-a-half years in prison, respectively; and construction executive Louis Ciminelli to 28 months.

Attorneys for Kaloyeros told the Wall Street Journal that he plans to appeal the decision. [WSJ and Times Union] — Kathryn Brenzel

Related Articles

Alexandria Ocasio-Cortez, Bernie Sanders and Elizabeth Warren

By the numbers: Breaking down national housing agendas from the far left

California passes landmark rent control law

Nuveen CEO Vijay Advani, Blackstone President & COO Jonathan Gray and one of the Texas properties

Blackstone just sold off a 29M sf national industrial portfolio

The purge continues: WeWork’s head of real estate is leaving

Judith and Rudy Giuliani Rudolph and Judith Giuliani are divorcing after 16 years. (Credit: Getty Images, Trulia, Highrises)

Luxury properties at play in Rudy Giuliani’s ugly divorce

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

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

The Watchtower building at 25 Columbia Heights, CIM Group’s Shaul Kuba (right) and LIVWRK’s Asher Abehsera (Credit: Wikipedia, CIM Group, and LinkedIn)

JPMorgan leads $335M refi for CIM and LIVWRK’s Watchtower renovation

Jimmy Van Bramer (Credit: NYC.gov, iStock)

After failing to meet his own deadline, Queens council member returns thousands in real estate donations