The Manhattan District Lawyer’s workplace dropped its fees 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 not less than six months. If Omnibuild complied with the monitor, its fees can be dismissed.
The monitor advisable that the monitorship come to an finish and stated Omnibuild was in full compliance by its month-to-month stories 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 fees 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 fees, claiming that information of the indictment price 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 challenge on the Excessive Line generally known as the XI to dupe the lender, the Youngsters’s Funding Fund, to launch more cash to HFZ. Mingione resigned as co-CEO months later.
In April 2026, Mingione pleaded responsible to 1 depend of prison conspiracy. He was required to pay a $20,000 superb and full 100 hours of group service. Mingione completed his group service and his felony plea was decreased to a misdemeanor cost months in the past, stated 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 legal professional sought extra time to succeed in a decision exterior of a trial. A trial date was set for October. The trial has been postponed to November.
Now Omnibuild can resume enterprise as regular and bid on initiatives with no court-appointed monitor.
“With this matter now behind us, Omnibuild stays targeted on what we do greatest —- delivering premier building administration providers for New York Metropolis’’s most bold developments, backed by distinctive craftsmanship, experience, and an unwavering dedication to excellence,” Omnibuild stated in an announcement.
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
