New York Attorney General Charges N.Y.C. of Fraud Over Taxi Crisis

New York Attorney General accuses NYC of Fraud Over Taxi Crisis

The state’s attorney general of the United States is seeking $810 million from the city to make up financially struggling taxi medallion proprietors.

The city marketed the medallions as an investment; even though it understood they were overpriced, the state says.
The city marketed the medallions as a “solid financial investment,” even though it understood they were overpriced, the state says.

New York State’s attorney general of the United States on Thursday implicated New York City of committing fraudulence by artificially inflating the value of yellow taxi medallions, and also she demanded $810 million from the city to make up the hundreds of cab drivers who are now encumbered massive financial debt.




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