Joseph Percoco, March 12, 2018/ photo credit: David Handschuh/ ALM
NEW YORK CITY—New York Gov. Andrew Cuomo's former aide Joseph Percoco was sentenced to six years in prison. In March, a jury found the governor's former executive deputy secretary guilty of soliciting and taking more than $300,000 to assist Competitive Power Ventures Inc. and real estate developer, COR Development, in their business dealings with the State of New York.
Percoco had been found guilty of conspiracy to commit honest services fraud and solicitation of bribes and gratuities.
As reported in GlobeSt.com, at the trial, federal prosecutors charged Percoco with receiving more than $287,000 from CPV, including payments to his wife, Lisa Toscano-Percoco, for a “low-show” job. The feds alleged bribe payments were made for Percoco to help CPV secure low cost state emission credits and a “lucrative long-term energy purchase agreement with the state.” This would ensure a buyer for the energy produced at CPV's plant, in which they saved approximately $100 million in development costs, according to prosecutors.
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
