NY Assembly Speaker Sheldon Silver Under Investigation Over Payments Received
The New York Assembly Speaker, Sheldon Silver (Democrat) could be prosecuted by US authorities for large payments received from a small law firm that seeks real estate tax reductions!
Payments received by Silver were not disclosed in his tax records
The US authorities are investigating the New York Assembly Speaker for having received sums of money from a small NY law firm Goldberg & Iryami whose work involved tax reductions from municipalities for properties assessed by them. The authorities are concerned that this money has not been declared by Mr. Silver in his tax filings with the IRS.
These payments have been received by Silver for over a decade and their sum total could possibly be substantial if disclosed to the federal government. Prosecutors, Preet Bharara, and the FBI agents involved in the investigation are curious to know what exactly this legislator has been using this money to buy. What they would like to know is associated with an old problem the government has been trying to resolve, one of political payoffs and conflict of interest by legislators.
The law firm’s payments to Mr. Silver was brought to general notice by the Moreland Commission that was created by job killer and job preventer Democrat Gov. Andrew M. Cuomo in 2013, who is against fracking when his state is sitting on vast deposits of oil shale that could bring wealth and jobs to his state, as an anticorruption panel to investigate corruption in Albany area. However, it was soon shut down at the behest of many irate lawmakers.
Mr. Silver is a Speaker and personal injury lawyer with no expertise in tax certiorari laws
The Speaker has wielded a lot of clout over the Albany neighborhood receiving income from his private practice earning over $650,000 from this over and above his regular income of $121,000 as a legislator.
A survivor of many scandals, the senator has continued to have a stronghold over the Albany neighborhoods for the two decades he served as Speaker. Protected by the State Ethics Law, it is not illegal for him to reveal details of what he does. Mr. Silver is not a tax attorney and his area of expertise in law happens to be personal injury.
Sheldon Silver (Democrat) – in trouble.
Law firm could be due to association with the Speaker
This law firm is composed of two tax attorneys who served in the NY City’s Tax Commission and Iryami. Located in Lower Manhattan, the firm has sometimes supported Mr. Silver’s campaigns. It is on record that they have contributed about $7,600 to the campaign since 2001, the most recent one being in this February when $1,800 was contributed.
The investigation has shown that this tiny firm has represented hundreds of properties in NY City, from Staten Island to Midtown Manhattan as per court filings. Mr. Silver and his associates have been shown to be associated with many properties like Hillman Housing Corporation and the Commercial Building across this co-op.
A letter from grateful property owners who have benefited from property tax reductions from municipalities have also been cited. Anytime you can save money from paying taxes is a blessing. It has been shown that the tax reduction firms like Goldberg’s receive a third of the tax reductions as compensation. It is all very complicated. If America just had a flat tax and a more simplified tax code much of these shenanigans would dissipate.
