Saturday, December 15, 2007

Cuomo targets big developers

After more than two years of dormancy, the enforcement arm of Attorney General Cuomo's real estate bureau is being revived, Mr. Cuomo said in an interview yesterday.

The attorney general's office has put forward a bill that would raise the maximum fee for reviewing offering plans to $30,000, a 50% increase. If the bill, which would affect only larger developers, passes next year, the new revenue will be used to add staff to the Real Estate Finance Bureau.


Cuomo Breathes New Life Into Real Estate Bureau

Real estate attorneys say that, since 2005, they have been unable to get the office to follow through on complaints filed against developers who refuse to fix buildings with shoddy construction.

The attorney general's office has the authority to litigate and mediate disputes with developers who commit fraud under the Martin Act, the law that allows the office to investigate and prosecute companies that issue stock fraudulently.


Photo from NY Magazine

4 comments:

Anonymous said...

An independent investigation needs to be started immediately (if it already has not begun) into the dealings of Commissioner Lancaster and the dysfunctional (corrupt?) DOB with respect to Scarano and Huang. These two demolition derbys have hurt many people big time (both financial and psychologically). It is known that if you are the Huangs you can arrange a meeting with the Commissioner, but if you are Councilman Tony Avella don't hold your breathe (it ain't going to happen).

We need answers as to why the City's investigative agencies seem to have trouble compiling the hard evidence to prosecute these two bandits. Much concrete evidence has been presented to them by many individuals. How dare Lancaster slap these two guys on the wrists, hid their misdeeds from the press and continue to aid and abet them.
Her lame excuse just does not ring true.

Mr. Cuomo needs to get to the bottom of this whole tiring mess. What did letting Scarano voluntarily give us his self-certification rights accomplish for the public. Really, nothing. Presumably, he will now have one of his underlings sign off on his jobs going forward. What was accomplished? Scarano keeps his architect's license and does not get prosecuted. Sounds like Scarano made out like Fat Sam.

What about all the houses Tommy built and obtained C of Os on, only to have the DOB later go to the BSA and have the C of Os rescinded? It is said that Tommy is being sued by at least 5 of these homeowners. How did the DOB issue the C of Os in the first place? Were the violations so serious as to endanger the lives of the purchasers?

What is wrong with this seemingly never ending saga?

Anonymous said...

Well it's about d--n
f-----g time
that the state got off
its ass!

Anonymous said...

the microphones look like cobras, about to strike at Andy's throat and inject their lethal venom.

NY Zeitgeist said...

How quickly everyone has forgotten the HUD scandal.

So now it's the corrupt investigating the corrupt. Brilliant concept!