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Queens Chronicle

Busted developers fined $5M

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Posted: Thursday, June 20, 2013 10:30 am | Updated: 10:52 am, Thu Jun 27, 2013.

A couple of developers who were banned from selling condos in Queens were busted for allegedly defying that ban, according to the New York Post.

Tommy Huang and his wife, Alice Liu, marketed and sold units in the Broadway Towers Condominiums in Elmhurst to more than 27 buyers between 2008 and 2012, according to the state Attorney General’s Office.

The AG’s office said it expects them to plead guilty. If they cannot pay the $5 million they could be liable for — $3.5 for their earnings and $1.5 in penalties — the couple will face one to four years in prison, according to the Post.

Huang, 59, and Liu, 60, were banned by the state AG in 1999 for missing $325,000 in payments on two Flushing condo developments, among other charges in Queens.

The AG’s complaint alleges that their son, Harry Huang, 35, set up the Elmhurst condo buildings, financed by his parents, and secretly let them sell units. The younger Huang has not been criminally charged.

Huang’s lawyer, Marvyn Kornberg, said that the couple did not hide behind their son and “the charges are vastly overrated.”

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