"BAY RIDGE - Courts found landlord Xi Hui "Steven" Wu and his companies liable for fraud after determining that he illegally sold non-existent condominium units in Bay Ridge to families. New York County Supreme Court ruled that Wu unlawfully collected millions of dollars in down payments and fees from 20 immigrant families who believed they were buying homes and was ordered to pay over $4.2 million plus 10 years of interest."
""Steven Wu preyed on hardworking immigrant families, abused their trust and stole the savings they had set aside to build a stable future," said James. "These families believed they were buying homes when in reality, they were being sold nothing but lies. This order returns money to the families Wu cheated and ensures he can never again exploit New Yorkers through fraudulent real estate schemes. I am thrilled that these families will finally see justice.""
Courts found landlord Xi Hui "Steven" Wu and his companies liable for selling nonexistent condominium units in Bay Ridge. The New York County Supreme Court determined Wu unlawfully collected millions in down payments and fees from 20 immigrant families and ordered repayment of over $4.2 million plus ten years of interest. Attorney General Letitia James sued Wu, his ex-wife Xiao Rong Yang, and related companies after an investigation revealed a years-long scheme that stole more than $5 million. The court awarded $4,227,888 in restitution with 9% interest dating to 2016, to be returned to the defrauded families.
Read at Brooklyn Eagle
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