Manhattan developer accused of US$1 million tax evasion
Michael Shvo case is latest by state authorities to scrutinise art dealers and collectors
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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