RICO suit tears up NYC to ‘inflate’ taxi medallion prices

By Linda Chiem (April 6, 2021, 7:01 p.m. EDT) – New York City artificially inflated the values ​​of once-coveted taxi licenses, known as lockets, and made taxi drivers safe in the face of fierce competition from carpooling applications. wiped out their source of income, according to a $ 2.6 billion federal racketeering lawsuit filed Tuesday.

Taxi medallion holders Alec Soybel and Galina Kaminker have filed a proposed class action lawsuit in Brooklyn federal court accusing the city and the New York City Taxi and Limousine Commission of fraudulently inflating the prices of thousands of car medallions. yellow taxi and take advantage of the fraud over a period of 13 years. period from 2004 to 2017.

The details of the 105-page complaint …

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