Municipal securities issued for Brightline, the privately-run passenger rail company, have returned as much as about 20% this year, far out pacing a 5.5% gain for high-yield municipal bonds.
New York saw a net loss of roughly 19,800 residents earning more than $200,000 annually in 2021, while California saw a net loss of 27,300 high-earners.
They didn’t meet documentation requirements, and their appraisals contained valuation misstatements.
New York court allows minority owner to obtain information despite attorney-client privilege.
