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