U.S. Attorney Breon Peace in Brooklyn said the two, both naturalized US citizens, enticed their victims to invest in a series of fake businesses, including a sham real estate investment, while making illegal donations to campaigns.
The state will sell development rights to private developers and collect payments-in-lieu-of-taxes, known as PILOTs, on newly constructed and environmentally friendly office and residential buildings.
A bid/ask gap has emerged between buyers and sellers and real estate investors attempt to navigate the shifting economic climate.