NYC Landlord Gets Year In Jail, $5M Penalty For Tax Fraud

Law360, New York (October 4, 2017, 5:52 PM EDT) -- New York City landlord Steven Croman was sentenced Tuesday to one year in jail at Rikers Island and a $5 million settlement after he admitted to fraudulently refinancing loans and committing tax fraud as part of a scheme to push out tenants from rent-stabilized apartments, according to New York State Attorney General Eric Schneiderman's office.

Croman, who owns more than 140 apartment buildings across Manhattan, pled guilty in June to third-degree grand larceny, first-degree falsifying business records and fourth-degree criminal tax fraud, all felonies. As part of his plea, he must pay a $5 million tax settlement, Schneiderman's office said. He...

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