The Manhattan District Lawyer’s workplace dropped its expenses towards Omnibuild Building over the agency’s alleged function in an $86 million fraud scheme involving the XI condominium tower.
The development agency entered right into a deferred prosecution settlement in April. As a part of the deal, an unbiased monitor was tasked with overseeing the corporate for no less than six months. If Omnibuild complied with the monitor, its expenses could be dismissed.
The monitor advisable that the monitorship come to an finish and mentioned Omnibuild was in full compliance via its month-to-month studies and insurance policies, the District Lawyer’s workplace famous at a court docket look in Decrease Manhattan on Wednesday. Choose Ann Thompson formally dismissed the costs on the listening to.
The dismissal marks the top to Omnibuild’s prison case.
The agency claimed it was a sufferer of a fraud scheme run by luxurious actual property agency HFZ Capital and its former managing principal Nir Meir. The corporate’s staff pleaded with D.A. Alvin Bragg to drop the costs, claiming that information of the indictment value the agency over $1 billion in work.
Omnibuild’s co-CEO John Mingione and accountant Kevin Stewart had been indicted in February 2024 over allegations they conspired with Meir and others to inflate invoices for a condominium mission on the Excessive Line often known as the XI to dupe the lender, the Kids’s Funding Fund, to launch more cash to HFZ. Mingione resigned as co-CEO months later.
In April 2026, Mingione pleaded responsible to 1 rely of prison conspiracy. He was required to pay a $20,000 advantageous and full 100 hours of neighborhood service. Mingione completed his neighborhood service and his felony plea was decreased to a misdemeanor cost months in the past, mentioned Adam Konta of Konta Georges & Buza, who represented Omnibuild and Mingione.
Stewart had pleaded responsible to a misdemeanor cost of prison facilitation.
Meir is the one defendant initially charged who has not reached a plea deal. Prosecutors alleged Meir was the mastermind of the scheme and charged him with grand larceny, conspiracy and tax fraud in 4 separate indictments. He’s confined to a New York Metropolis condo with digital monitoring. In July, Meir’s lawyer sought extra time to succeed in a decision outdoors of a trial. A trial date was set for October. The trial has been postponed to November.
Now Omnibuild can resume enterprise as traditional and bid on initiatives and not using a court-appointed monitor.
“With this matter now behind us, Omnibuild stays targeted on what we do finest —- delivering premier building administration companies for New York Metropolis’’s most formidable developments, backed by distinctive craftsmanship, experience, and an unwavering dedication to excellence,” Omnibuild mentioned in a press release.
Learn extra
Omnibuild executives plead guilty to lesser charges in XI fraud scheme
DA expects Nir Meir’s fraud case to go to trial
Omnibuild CEO resigns to fight indictment
