Tax Evaders Can't Shake $186M Ruling In Flatotel Loan Case

Law360, New York (January 2, 2013, 7:16 PM EST) -- A New York appeals court recently affirmed a $186 million default judgment against two convicted tax evaders and others for allegedly defrauding a French bank on a loan to develop a Manhattan hotel, ruling that the defendants attempted to perpetrate a fraud on the court.

A five-judge Appellate Division panel on Dec. 27 upheld a lower judge's September 2011 ruling entering default judgment against Maurice Cohen, his son Leon and others who worked for them. New York Supreme Court Judge Peter O. Sherwood had ruled that...
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