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March 8, 2012

Yonkers trial update: a curious tax return for Council Member Annabi, with an unexplained unpaid cash loan to her father

Atlantic Yards Report

Yesterday, the federal corruption trial of ex-Yonkers Council Member Sandy Annabi and her political advisor/alleged briber Zehy Jereis stayed in fairly dry territory, focusing on questionable documents presented by Annabi that have provoked tax charges.

Walid Farhat, who from 2001-05 served as Annabi’s accountant, testified that he blanched at Annabi's decision to claim a tax deduction on a loan to her father--$50,000 in cash--that wasn't repaid.

He asked for proof--"I didn't see it making sense"--and was giving bankruptcy papers. He pressed and asked for the promissory note Annabi claimed. "She said 'that's not your business,'" Farhat testified.

That loss, as well as some $41,000 in mortgage interest, essentially offset her earnings in 2005, Farhat said.

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Related coverage...

The Journal News, Annabi's ex-accountant questioned her tax deduction on claimed loan

Posted by eric at March 8, 2012 10:44 AM