A Super Bowl Trip, a Bribery Indictment and the Taxi Industry’s Corruption (NY Times)
NY Times reporter Brian M. Rosenthal provides an update on a story from 2019. Tony Georgiton, a prominent yellow cab broker and fleet owner, has been sentenced to home confinement for bribery
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Original Story
For decades, Alan S. Kaufman and Tony Georgiton held immense power in New York City’s taxi industry. Mr. Kaufman led a major credit union that lent money to thousands of drivers. Mr. Georgiton co-owned a fleet that operated 550 cabs. Together, they controlled the fortunes of more cabbies than almost anybody else in the business.
But behind the scenes, federal prosecutors in Manhattan said, they orchestrated a bribery scheme to enrich themselves at the expense of their clients. On Thursday, authorities arrested both men, accusing Mr. Kaufman of accepting bribes in return for lending money to Mr. Georgiton under sweetheart terms.
“Lavish vacations, rent-free housing and even naming rights to a ballroom were among the high-ticket items Kaufman received in this alleged scheme,” William F. Sweeney Jr., an assistant director of the F.B.I., said in a statement. “Today’s charges highlight a series of fraudulent behaviors that raised red flags along the way.”
Read the full story here
The TLCMKT Newsletter is written by Dawood Mian, Founder & CEO of TLC Market. He covers the NYC ridesharing industry and related news. Search TLC Market for cars, parts, tires, mechanics, reviews & more. Find great deals at TLCMKT.COM.
Everyone who bought a medallion ,bought to work in Manhattan ,nobody bought a medallion to work in the boroughs, city legislators and TLC officials Knows that, they were supposed to add apps system to yellow cab in the city, they could open apps companies like Uber or Lyft for the borough and only blacks cars in the city, if they did that, the city could have increased the amount of medallions and perhaps with the increase in medallions the price would drop but the system would not collapse....Please don't say there was not corruption , you hurt my intelligence ... I am sorry but I have to say it.
I think New York City and law makers are the main culprits of yellow cab industry, medallions drivers owners bought rules that city destroyed when open Manhattan and airport terminals to apps companies without having to pay for medallions, we were scammed for the city, they licenses over hundred thousand cars to operate in the city, they weren't supposed to do that......