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FBI: $10 Million Payed Back to Victims

By Danny Fenster

The victims of one of New York’s largest public corruption schemes can breathe a sigh of relief today.

The US Attorney in Rochester, New York, announced on Wednesday that more than $10 million in forfeited property has been returned to the victims of property tax appraisal and assessment schemes orchestrated by property appraiser John Nicolo.

Nicolo and others schemed victims out of millions in 2005 by falsely inflating tax assessments on their properties.  John Nicolo then got the victims — many of them companies — to hire him to reduce the tax assessments,  according to the FBI.

The victims of the scheme include the Eastman Kodak Company, the Town of Greece, IBM, ITT Industries, Inc., RG&E, and Global Crossing.