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Manhattan developer accused of US$1 million tax evasion

Michael Shvo case is latest by state authorities to scrutinise art dealers and collectors

Published Sun, Sep 11, 2016 · 09:50 PM

New York

FOR the last six years or so, real estate developer Michael Shvo allegedly went shopping for luxury goods that would make an oligarch swoon: fine art, jewellery, furniture, even a Ferrari.

On Thursday, Manhattan District Attorney Cyrus Vance cut the spree short, accusing Mr Shvo of evading more than US$1 million in state and local taxes while making his high-end purchases.

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Manhattan developer accused of US$1 million tax evasion

Property

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