Yankee Stadium ‘Possible Fraud’: Everybody may be readying to say…

[CURBD] 2008_09_NewYankeeStadium.jpg

Everybody may be readying to say bye to the old Yankee Stadium, but a Congressional hearing on the new one mentioned "improprieties and possible fraud" regarding $942 million in tax-exempt bonds already approved. Rep. Dennis Kucinich says his probe has uncovered "substantial evidence of improprieties and possible fraud by the financial architects of the new Yankees Stadium." A city appraiser put the value of the stadium land at $40 million but the city used a figure of $204 million to get the IRS to sign off on the tax-free bonds. [NYDN]

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