The state Attorney General has opened up an $8 million restitution fund
Fresh out of his eight-month prison sentence, disgraced New York City landlord Steve Croman is back in the news as the state Attorney General has opened an $8 million restitution fund as part of the settlement that Croman agreed to pay tenants.
On Tuesday, the state announced the start of the claims process, allowing the hundreds of former and current tenants who were harassed to make their claim for a portion of the settlement, reports Crain’s. Tenants who lived in a rent-regulated apartment within one of Croman’s properties between July 1, 2011, and Dec. 20, 2017, and have taken a buyout of $20,000 or less are eligible for a portion of the settlement.
In 2016, former Attorney General Eric Schneiderman charged Croman with 20 felonies, including harassing tenants at rent-regulated apartments within his various properties, and falsifying rental income to secure as much as $45 million in financing. Croman pleaded guilty to charges of grand larceny, tax fraud, and an additional fraud charge relating to false statements.
“This office has zero tolerance for predatory landlords who seek to line their pockets at the expense of their tenants’ well-being,” said Attorney General Barbara Underwood as she announced the opening of the fund.
The restitution fund will be split evenly among the qualified tenants and a third-party manager will oversee 100 of Croman’s properties for the next five years.
- AG opens $8M restitution fund for Croman tenants [Crain’s]
- Notorious landlord Steve Croman to pay a record $8M to tenants [Curbed]
- Notorious landlord Steve Croman will serve jail time [Curbed]
Source: FS – All – Real Estate News 1
Tenants harassed by notorious NYC landlord may now receive restitution