May 4, 2017
Steve Croman, one of the city’s most notorious landlords, is about to plead “guilty” to a long list of charges. He faces more than a dozen counts of grand larceny, scheme to defraud and other charges.
Under the deal, he would spend eight months behind bars and pay $5 million-$10 million in fines, according to the New York Post.
Croman and mortgage broker Barry Swartz allegedly filed false paperwork inflating the rental income on mortgage documents to gain more than $45 million in loans, according to the office of the State Attorney General Eric Schneiderman, which is prosecuting the case.
Croman built his real estate empire by buying up buildings filled with rent-regulated tenants, then aggressively working to raise the rents.
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