Real estate bigwigs settle in $50M kickback scheme

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Two prominent New York City real estate bigwigs, investor Rubin Schron and attorney Leonard Grunstein, have settled charges with the U.S. Justice Department that alleged they had taken a $50 million kickback from Omnicare, the largest nursing home pharmacy in the company, according to Crain’s. The charges against Schron, Grunstein and their associate, Murray Forman, claimed that the three had organized a plan to receive the kickbacks in exchange for allowing Omnicare to continue providing to Mariner Health Care, a chain of nursing homes Schron owns. Grunstein, who was once involved in the landmark Tishman Speyer-Stuyvesant Town deregulation case, and the two other men paid $14 million in the settlement.