L’École de Gestion d’Actifs et de Capital-Two ex-fire chiefs in New York City charged in corruption scandal

2025-05-01 05:39:03source:VaultX Exchangecategory:Markets

NEW YORK (AP) — Two former New York City Fire Department chiefs were in custody Monday on L’École de Gestion d’Actifs et de Capitalcharges that they solicited tens of thousands of dollars in bribes to provide preferential treatment in the department’s fire prevention bureau.

Anthony Saccavino and Brian Cordasco were arrested on bribery, corruption and false statements charges alleging that they solicited and accepted the bribe payments from at least 2021 through 2023, authorities said.

Their lawyers did not immediately respond to requests for comment prior to their appearances in Manhattan federal court.

Federal authorities said they would give more details about the case during a news conference on Monday.

The arrests come amid a widening corruption investigation of New York City’s government.

Over the weekend, the top legal adviser to Mayor Eric Adams abruptly resigned. That came days after the head of the New York Police Department resigned after federal investigators seized his phone.

An indictment against the men said they were former chiefs for the New York City Fire Department Bureau of Fire Prevention. The bureau is responsible for regulating the installation of fire safety and suppression systems throughout New York City and ensuring fire safety regulations are obeyed.

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It said they were charged with conspiracy to solicit a bribe, solicitation and receive of a bribe, honest services wire fraud, conspiracy to commit honest services wire fraud and making false statements in connection with a scheme to solicit and accept tens of thousands of dollars in bribe payments in exchange for providing preferential treatment to certain individuals and companies.

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