Brooklyn real estate developers charged with defrauding New York’s affordable housing program | amNewYork

Prosecutors announced that Brooklyn real estate developers were indicted for allegedly defrauding the state’s tax exemption program meant to promote affordable housing.

“These developers allegedly abused a government program meant to provide New Yorkers access to desperately needed affordable housing. Not only did they illegally charge substantially higher market rents for years, but they did so while personally reaping the benefits of generous property tax abatements.

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