Albany, NY – Senate Majority Leader Pedro Espada, Jr. and his family siphoned more than $14 (M) million from his Bronx not-for-profit according to a lawsuit filed by New York Attorney General Andrew Cuomo.
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The suit says Espada looted the Bronx based Comprehensive Community Development Corporation (“Soundview”) along with 19-other current and former officers and directors of the charity.
The lawsuit, filed Tuesday, alleges Espada diverted Soundview’s charitable assets and used the money for himself, his family, his friends, and his political operation.
Soundview was founded by Pedro Espada Jr. with the purpose of providing healthcare to the people of the South Bronx. It is a not-for-profit that receives a vast majority of its funding from the state and federal government.
Cuomo says an investigation found that, among other things, Soundview gave Espada a severance package that is currently worth an estimated $9 million. The provision unconditionally guarantees Espada the payment of one year’s gross pay for every year of service. If the clause were triggered, Soundview would be forced into bankruptcy.
It doesn’t sound like a very “Soundview” to me!
If he is guilty, than many others who run “non-profits” should be guilty too, including many “heimeshe” non profits.
Another piggish politician that steals our tax dollars. Make him pay back every cent plus interest and then throw him in jail with the other crooks.
Other than this, the senator is such a good man.
Why is he different than Sharpton?
How can I establish a tzedeka and get such a severance package?
This whole charity organization is a chazer-shtick. Any schmoe can open up a “non-profit” charity organization that will allow him to basically schnorr off other people and pay himself any salary and expenses and hire friends and family to supposedly run this “organization”. He can also register his car under the charity and use it for personal purposes among other things. The IRS should shut down these abusers with better oversight and enforcement. That’s what happens when Republicans weaken government oversight so that the few machers can become even bigger machers at the expense of everyone else.
Why is this a civil suit and not a criminal complaint?
democrat republican or independent it does not matter they are all corrupt in albany
This Espada is a Democrat in name only. He has to be since he would never win in his district if her were’nt. If his district was mostly Republican, he would switch in a heartbeat. He’s a opportunist like all politicians are. The political courruption in this country is becoming ridiculous. I think the Feds are not going after these chevra is because it is so rampant everywhere else that they just don’t have the manpower and willpower to go after them.