Money in Your Pockets: Governor Hochul Announces Nearly 3 Million New Yorkers to Receive $2.2 Billion in Tax Relief This Summer and Fall

$350 to $600 for Most Homeowners with Income Below $500,000

$700 to $1,500 for Most Seniors with Income Below $107,300

Checks Sent to Eligible New Yorkers Starting Next Week; Deliveries Continue Throughout Summer and Early Fall

Some Recipients Have Already Received Their Benefits As a Tax Exemption

Visit ny.gov/STAR To Track Check Delivery or Enroll in Direct Deposit

Governor Kathy Hochul today announced that nearly three million New Yorkers will receive $2.2 billion in tax relief this summer and fall through New York's School Tax Relief (STAR) program. STAR provides property tax relief to eligible homeowners and seniors statewide. While some STAR recipients have already received their benefit in the form of a tax exemption this year, many other recipients will receive their benefit as a tax credit and will be sent a check in the mail this summer and fall. Check deliveries will begin next week and will continue statewide throughout the coming months. Most homeowners eligible for a STAR credit will receive a check between $350 and $600. Most seniors eligible for an Enhanced STAR credit will receive a check between $700 and $1,500. STAR recipients can visit ny.gov/STAR to track their check delivery or enroll in direct deposit.

“Summer is here — and it’s also the start of STAR tax relief season for millions of New Yorkers,” Governor Hochul said. “From tax credits to child care assistance and much more, we’re continuing to put more money back in New Yorkers’ pockets.”

New York State Department of Taxation and Finance Acting Commissioner Amanda Hiller said, “The STAR program delivers welcome tax relief, and we want every eligible homeowner to take advantage of it. If you’re a new homeowner, or you are currently not receiving a STAR benefit on your primary residence, check out the Tax Department’s website to see how you can enroll and start saving.”

Regional breakdown of this year’s $2.2 billion in STAR tax relief for nearly 3 million New Yorkers: 

REGION	STAR TAX RELIEF	RECIPIENTS
Capital District	$144.5 million	242,000
Central New York	$131.1 million	176,000
Finger Lakes	$205.2 million	279,000
Long Island	$698.4 million	582,000
Mid-Hudson	$488.5 million	404,000
Mohawk Valley	$66.3 million	101,000
New York City	$158.6 million	483,000
North Country	$47.2 million	88,000
Southern Tier	$109.6 million	156,000
Western New York	$178.5 million	320,000
TOTAL	$2.2 BILLION	2.83 MILLION

Homeowners and seniors who are eligible and enrolled in the STAR program receive their benefit each year in one of two ways: as an exemption that reduces their school tax bill, or as a credit issued as a check or direct deposit.

The STAR benefits received by each recipient are based in part on local school taxes and vary based on the county in which the individual resides, among other factors.

Homeowners who are registered and eligible for the STAR credit can expect to receive their STAR credit before the deadline for their school taxes. Some parts of the state — including New York City, Buffalo, Rochester and Syracuse — have due dates in July and will receive their STAR benefits between the end of June and mid-July. Benefits across other parts of the state will continue to roll out statewide throughout the summer and fall.

Those who receive the STAR credit as a check or direct deposit can visit the STAR Credit Delivery Schedule to learn when credits will be issued in their area. Property owners who are looking for details about STAR credits that have already been issued should visit the Property Tax Credit Lookup.

Enroll in STAR Direct Deposit

Homeowners can enroll in the STAR Credit Direct Deposit program through the Homeowner Benefit Portal within the Tax Department’s secure Online Services system. Homeowners will also be able to use the Homeowner Benefit Portal to manage their STAR benefits easily and efficiently.

The direct deposit option enables eligible STAR credit recipients to get their STAR credits without having to wait for and cash a check. To ensure homeowners receive their STAR credit by direct deposit this year, they should enroll as soon as possible. Homeowners who enroll fewer than 15 days before STAR credits are issued will receive a check this year and direct deposit will begin next year.

For more information about the STAR program, visit the Tax Department’s STAR Resource Center.

Comptroller Lander Secures $650K in Back Wages & Benefits from 160 Madison Ave LLC for 421-a Prevailing Wage Violations

 

With this settlement, the Bureau of Labor Law has collected over $11M during Comptroller Lander’s tenure

New York City Comptroller Brad Lander reached a settlement with 160 Madison Ave LLC for prevailing wage violations regarding 15 workers over the course of three years – and their second prevailing wage violation.  The settlement payments total $650,000.00, including back wages and benefits, civil penalties, and interest. This most recent settlement brings the total collected under Comptroller Lander’s term to over $11 million. 

“160 Madison Ave LLC spent three years underpaying employees of their rightful wages—and failed to do so not once, but twice,” said New York City Comptroller Brad Lander. “It’s unacceptable for a building owner that’s receiving a tax benefit to underpay its service workers by more than a year’s rent in those buildings. New York City workers deserve to be compensated fairly, and I’m proud of the work we’ve done to make sure New York City remains a stronghold of workers’ rights.” 

“The Bureau of Labor Law works to prevent future prevailing wage violations,” said Claudia Henriquez, Director of Workers’ Rights at the Comptroller’s Bureau of Labor Law. “This is why it’s imperative our bureau maintains a critical eye even after a settlement, and further proof of the important work we do to ensure employees working at properties that receive tax exemptions from the state are paid the wages and benefits they rightfully deserve.” 

160 Madison Ave LLC is the owner and employer of a 308-unit rental building located at 160 Madison Avenue. It receives tax exemption benefits under Real Property Tax Law Section 421-a and is therefore required to pay building service employees prevailing wages and benefits under the law. 

The Comptroller’s Office Bureau of Labor Law had previously settled with 160 Madison Ave LLC in 2020 for $285,224.88 after finding that the employer failed to pay its building service workers prevailing wages and benefits, as required by 421-a, from December 2016 through March 2019. After reports that the employer continued its practices, another investigation was opened against them. The second investigation found that 160 Madison Ave failed to pay 15 employees prevailing wages and supplemental benefits from March 2019 through February 2021. 

The Stipulation of Settlement required additional training for the employer’s staff to be completed as well as compliance with notice requirements. The Stipulation was executed on May 1, 2025. 

This case was handled by Agency Attorney Emily Chang under the supervision of Supervising Attorney Amy Luo. The investigation was conducted by Investigator Cordie McCann under the supervision of Francisco Gonzalez, Director of Investigations, and Jose Quiroz, Deputy Director of Investigations. The audit of underpayments was performed by Xiaoyue Lin, Auditor, under the supervision of Stuart Rimmer, Director of Audit. The Bureau of Labor Law is overseen by Claudia Henriquez, Director of Workers’ Rights. 

Attorney General James Freezes $300,000 in Cryptocurrency Linked to Scammers Targeting New Yorkers

 

Scammers Used Deceptive Social Media Ads to Lure Russian-Speaking New Yorkers into Investing with Fake Cryptocurrency Trading Platforms

Over 100 Fraudulent Domains Seized; Some Victims Were Warned Early, Others to Be Made Whole

New York Attorney General Letitia James today announced that her office took action to stop a fraudulent cryptocurrency investment scam that targeted hundreds of Russian-speaking New Yorkers in Brooklyn and across the country. A joint investigation by the Office of the Attorney General (OAG), the Brooklyn District Attorney’s Office, and the New York State Department of Financial Services (DFS), found that Vietnam-based scammers defrauded victims by luring them with deceptive social media ads in Russian that claimed big returns on cryptocurrency and other investments. The scammers convinced more than a hundred victims to purchase cryptocurrency and invest it into fake trading platforms, then stole the victims’ assets and disappeared. After learning of the investigation, Meta shut down more than 700 accounts associated with an advertiser promoting the scam. The OAG secured a court order freezing $300,000 worth of cryptocurrency linked to the scammers, and the Brooklyn District Attorney’s Office seized an additional $140,000 worth of cryptocurrency. 

“Hundreds of New York investors thought they were putting their hard-earned money in safe, high-return investments, only to be defrauded out of millions of dollars,” said Attorney General James. “These scammers targeted Russian speakers on Facebook with enticing ads and my office, together with DFS and the Brooklyn District Attorney’s office, took action to stop these scammers and protect New Yorkers. I urge all New Yorkers to be vigilant of online cryptocurrency investment ads.”

“As crypto scams continue to proliferate, it is crucial for law enforcement agencies to work together in order to stop them,” said Brooklyn District Attorney Eric Gonzalez. “That’s what happened in this case, with the fraudulent network being shut down, victims warned to stop investing, and some of the stolen money getting recovered. I am grateful for the partnership with the Attorney General’s Office and the Department of Financial Services that led to this successful outcome. My office will continue to investigate every reported scam in Brooklyn and to educate residents about how to protect themselves from these dangerous frauds.”  

“Through partnership and collaboration with the Brooklyn District Attorney and New York Attorney General, hundreds of thousands of dollars were returned to victims and these criminals were held accountable for their deplorable actions,” said New York State Department of Financial Services Superintendent Adrienne Harris. “As a preeminent global regulator of cryptocurrency, banks, insurers, and other financial services providers, the Department will continue to work every day to build a more equitable, transparent, and resilient financial system for all New Yorkers.”

The investigation started in October 2024 when DFS became aware that a fake cryptocurrency investment website was displaying what looked like a BitLicense certificate, purportedly issued by the agency. These certificates are issued to legitimate virtual currency businesses operating in New York to ensure compliance with state laws, consumer protection, and transparency. The first site NYDFS identified was WhalesTrade.com and further investigation revealed that the domain name was linked to a large network of related domains and accounts that were part of a scam campaign targeting Russian-speaking residents of Brooklyn and across the state and country.   

The scammers involved in this scheme lured victims with deceptive social media ads, many in Russian, featuring popular names and personalities. Once victims showed interest in investing, scammers responded to them and moved the conversation to encrypted private messaging apps like Telegram. After the victims made an initial investment on the fraudulent platforms, scammers then falsely showed the victims that their investment accounts were increasing in value and encouraged victims to send more money. After making more investments, sometimes totaling hundreds of thousands of dollars, victims were unable to withdraw their funds and told they needed to pay more in false withdrawal fees or “taxes.” Eventually, the scammers cut off contact with the victim and pocketed their money. 

The scammers targeted Russian speakers by launching a campaign of advertisements on Facebook that promised high returns on cryptocurrency investments. To avoid revealing their real identity to Facebook and to evade restrictions on misleading and fraudulent advertisement, the scammers paid an individual based in Vietnam for “Black Hat” advertising services. “Black Hat” advertising on Facebook refers to deceptive online tactics used to promote services that violate Facebook’s advertising policies.  The investigation revealed that the scammers used over a million dollars’ worth of cryptocurrency stolen from victims to pay the “Black Hat” advertiser for the placement of the deceptive advertisements.   

In the course of the investigation, more than 300 victims were identified, and many were personally contacted by the Brooklyn District Attorney and DFS investigators and alerted to the fraud so that they would stop sending funds to fake investment platforms. It’s estimated that the scheme caused over $1 million in losses in Brooklyn alone. To disrupt the scheme and prevent future harm, the Brooklyn District Attorney’s Office executed a series of warrants that resulted in the seizure of over 100 domains and 17 registrar accounts; terminated scammers’ access to their email, effectively disconnecting their communications with victims; seized $140,000 that was stolen from victims that can now be returned; and was able, with DFS, to monitor blockchain activity in real time and warn dozens of victims who had just started engaging with the scammers, preventing the future loss of funds. The OAG secured a court order freezing $300,000 worth of cryptocurrency linked to the scammers.

Attorney General James urges New Yorkers who have been affected by deceptive conduct in cryptocurrency markets to report the conduct to OAG by filing an online complaint. Attorney General James also encourages workers in the cryptocurrency industry who may have witnessed misconduct or fraud to file an online whistleblower complaint, which can be done anonymously.

Residents of New York who want to verify the legitimacy of a cryptocurrency exchange or file a complaint about a cryptocurrency company, product, or service can visit the DFS website, dfs.ny.gov/complaint or call (800) 342-3736. DFS continues to set the bar for prudential regulation of virtual currency, protecting consumers, preserving markets, and rooting out financial crimes like money laundering and terrorist financing.  

Attorney General James thanks the Brooklyn District Attorney’s Office and DFS for referring this matter and assisting OAG with the investigation and digital asset tracing.

United States Files Civil Forfeiture Complaint Against $225M in Funds Involved in Cryptocurrency Investment Fraud Money Laundering

 

The Department of Justice filed a civil forfeiture complaint today in the U.S. District Court for the District of Columbia against more than $225.3 million in cryptocurrency. According to the complaint, law enforcement used blockchain analysis and other investigative techniques to determine that the cryptocurrency is connected to the theft and laundering of funds from victims of cryptocurrency investment fraud schemes, commonly referred to as “cryptocurrency confidence scams.”

The complaint alleges that the cryptocurrency addresses that held the over $225.3 million in cryptocurrency were part of a sophisticated blockchain-based money laundering network that executed hundreds of thousands of transactions and was used to disperse proceeds of cryptocurrency investment fraud across many cryptocurrency addresses and accounts on the blockchain to conceal the source of the illegally obtained funds. 

“Today’s civil forfeiture complaint is the latest action taken by the Department to protect the American public from fraudsters specializing in cryptocurrency-based scams, and it will not be the last,” said Matthew R. Galeotti, Head of the Justice Department’s Criminal Division. “These schemes harm American victims, costing them billions of dollars every year, and undermine faith in the cryptocurrency ecosystem. Our investigators and prosecutors are relentlessly pursuing these scammers and their ill-gotten gains, and we will relentlessly pursue recovery of victim funds.”

“Under my leadership, with the support of President Trump and Attorney General Bondi, the U.S. Attorney’s Office for the District of Columbia is taking a leading role in the fight against crypto-confidence scams, partnering with law enforcement throughout the country to seize and forfeit stolen funds and rip them from the hands of foreign criminals, all with the eye toward making victims whole,” said U.S. Attorney Jeanine Pirro for the District of Columbia.

"The forfeiture of these illicit funds is a powerful tool in the FBI’s toolbox to stop the fraudsters who are operating online from stealing from the American people," said Assistant Director Jose A. Perez of the FBI Criminal Division. "The FBI will not standby while these criminals target unsuspecting victims who believe they are making legitimate investments. The hard work of the FBI and our partners continues as we work with victims and potential victims across the country to put an end to these scams and warn others about their devastating effects."

“This seizure of $225.3 million in funds linked to cryptocurrency investment scams marks the largest cryptocurrency seizure in U.S. Secret Service (USSS) history,” said Special Agent in Charge Shawn Bradstreet of the USSS San Francisco Field Office. “These scams prey on trust, often resulting in extreme financial hardship for the victims. The USSS, FBI, and our private partners worked diligently to trace these illicit transactions, identify victims and seize these funds so that they can eventually be returned to their rightful owners.”

As part of the investigation of the laundering network, over 400 suspected victims are believed to have lost funds after being duped into believing that they were making legitimate cryptocurrency investments. The complaint recounts millions of dollars in victim losses. According to the FBI Internet Crime Complaint Center’s 2024 Internet Crime Report, cryptocurrency investment fraud caused more than $5.8 billion in reported losses in 2024 alone. The USSS San Francisco Field Office and FBI San Francisco Field Offices investigated the case. The Department of Justice thanks Tether for its proactive assistance in this investigation.

Trial Attorneys Stefanie Schwartz and Ethan Cantor of the Justice Department’s Computer Crime & Intellectual Property Section (CCIPS) and Assistant U.S. Attorneys Kevin Rosenberg and Rick Blaylock Jr. for the District of Columbia are handling the matter.

Members of the public who believe they are victims of cryptocurrency investment fraud and other cyber-enabled crime should contact the FBI Internet Crime Complaint Center at www.ic3.gov. If you believe you may be a victim of one of the scams alleged in the government’s complaint, add the code “BT06182025” in the narrative of your complaint, and if you have previously filed a related complaint, make note of the prior complaint in the narrative.

MAYOR ADAMS, DCWP, NYC PUBLIC SCHOOLS UNVEIL ‘FINANCIAL LITERACY FOR YOUTH’ INITIATIVE, ANNOUNCE FIRST SCHOOL DISTRICTS TO RECIEVE FINANCIAL EDUCATORS FOR STUDENTS

 

Unveiled in State of the City Address Earlier This Year, ‘FLY’ Will Ensure Every Public School Student Can Learn How to Save and Spend Money

Educators Will Provide Counseling, Lead Workshops, and Help Create Curricula for Students Starting in Coming School Year 

Over 350,000 Public School Students and Family Members Will Be Served Within First Five Years of Program Alone 

New York City Becomes One of First Public School Systems in Nation to Place Financial Educators in Schools

New York City Mayor Eric Adams, New York City Department of Consumer and Worker Protection (DCWP) Commissioner Vilda Vera Mayuga, and New York City Public Schools Chancellor Melissa Aviles-Ramos today unveiled key details of the Adams administration’s “Financial Literacy for Youth” (FLY) initiative to make sure that every public school student can learn how to save and spend money by 2030. As part of today’s announcement, Mayor Adams unveiled the first 15 public school districts to receive financial educators, who will provide students and their families with free counseling and workshops starting this upcoming school year. Financial educators will also help develop classroom resources to build responsible financial habits. Financial educators will have specialized skills in leading workshops and trainings, as well as experience working with young people and families; they will support teachers and families to foster a financially-healthy environment for all school children. More than 350,000 public school students and family members will be served by financial educators through counseling, workshops, and other resources in the first five years of the program. Ultimately, the Adams administration will place a financial educator in every single district by 2030 as part of its FLY initiative, making New York City one of the first public school systems in the United States to deploy financial educators directly to schools and support students with this valuable resource. First announced in Mayor Adams’ State of the City address earlier this year, FLY will also pilot in-school banking to give students real-world exposure to safe and affordable banking options and explore additional ways to give students hand-on experience learning about saving and managing money.

“Making New York City the best place to raise a family means giving our young people the tools to succeed. Too many students leave high school knowing about chemical bonds but not Treasury Bonds; they learn how to do complex calculus but not how to do their taxes — that ends with our administration,” said Mayor Adams. “To succeed in the 21^st century, students need to learn how to do both, which is why we set an ambitious goal of making sure that every public school student can learn how to save and spend money by 2030. Today’s announcement will help us reach that goal — giving students, their family members, and their teachers the resources to succeed. This time next year, when students in these 15 districts have a question about opening a bank account or buying their first stock, they’ll have a valuable new tool to use. We’re not stopping there though; soon, we’ll bring these counselors to every district and expand our Financial Literacy for Youth initiative to set even more of our public school students on the path towards success.”

“The best way to set our children up for financial success is to prevent them from making the same financial mistakes that we’ve all made in our lives, but for too long, young people have been left out of our efforts to financially empower New Yorkers,” said DCWP Commissioner Vera Mayuga. “With ‘FLY,’ we will make sure our that city’s children are able to reach for the clouds and soar toward their financial goals. Thank you to Mayor Adams and to Chancellor Aviles-Ramos for partnering with us to help our young people secure their financial futures.”

“Financial literacy is a fundamental life skill that sets our students up for success,” said Public Schools Chancellor Aviles-Ramos. “Programs like ‘FLY’ will equip our students with the knowledge to make informed decisions about saving, spending, and investing, helping them become confident in making financial decisions. This program also builds upon the existing financial literacy curriculum over 15,000 students are receiving in our 135 FutureReadyNYC high schools. We are grateful for Mayor Adams and Commissioner Mayuga’s commitment to ensuring this core skill is a part of every student’s education.”

The Adams administration is taking an innovative and multi-pronged approach to give young people the tools they need to build healthy financial habits and set them on a path to success in adulthood. In the coming school year, DCWP will deploy financial educators to 15 select public school districts to provide counseling and lead workshops for school children and their families. The first 15 participating school districts — which were selected based on high rates of unbanked neighborhoods and existing participation in New York City Public Schools’ FutureReadyNYC program — will be:

District 2	Chelsea, Clinton, and Upper East Side
District 3	Central Harlem and Upper West Side
District 5	Central Harlem
District 7	Hunts Point, Longwood, and Melrose
District 8	Belmont, Crotona Park East, and East Tremont
District 9	Concourse, Highbridge, and Mount Eden
District 10	Bedford Park, Fordham North, and Norwood
District 11	Castle Hill, Clason Point, and Parkchester
District 12	Belmont, Crotona Park East, and East Tremont
District 14	Williamsburg, Greenpoint, and Bedford-Stuyvesant
District 19	Brownsville and Canarsie
District 21	Brighton Beach and Coney Island
District 23	Brownsville
District 30	Astoria, Long Island City, Jackson Heights, and North Corona
District 31	Staten Island

Ultimately, the Adams administration will expand youth financial empowerment counselors to all school districts. Additionally, FLY will provide in-school banking in underbanked communities to give students real-world exposure to safe and affordable banking options and explore additional ways to give students hand-on experience learning about saving and managing money. FLY was informed by a public forum DCWP held in November 2024 to solicit insights and recommendations from students, teachers, families, and experts on the subject of youth financial empowerment and addressing the gaps in financial education and resources for young adults. Following that hearing, DCWP released “From Tween to Twentysomething: Helping Young People Secure the Bag,” a comprehensive report summarizing testimony and key panels at the public forum.

FLY builds on DCWP’s work helping New Yorkers build responsible financial habits, manage debt, and keep more money in their pockets. Since 2008, DCWP’s Financial Empowerment Centers have helped tens of thousands of New Yorkers improve their credit, reduce their debt by more than $120 million, and increase their savings by more than $13 million through free one-on-one financial counseling services. FLY also builds on the Adams administration’s investment in scholarship accounts for college and career training to public school students beginning in kindergarten through the Save for College Program. To date, nearly 280,000 public school students have an NYC Scholarship Account with more than $45 million accumulated for their educational futures. From the Save for College Program to FLY to Financial Empowerment Centers, New York City now offers a comprehensive, multi-generational financial empowerment strategy. New Yorkers 18 and older can visit DCWP's Financial Counseling webpage or call 311 and say “financial counseling” to schedule an appointment or for more information.

Governor Hochul, State and Local Officials, and Community Leaders Celebrate Historic $1 Billion Investment Into SUNY Downstate Hospital

Proposed Plan Recommends Investment in Significant Infrastructure Improvements and Overall Modernization of SUNY Downstate’s Hospital

Plan Aims to Modernize the Hospital and Preserve All Inpatient and Outpatient Services in Central Brooklyn

 

Governor Kathy Hochul was joined by local officials, SUNY Downstate leadership, community leaders and labor and hospital groups to celebrate the historic $1 billion investment in SUNY Downstate’s hospital. Listening to the community’s input , the SUNY Downstate Advisory Board developed a plan to make infrastructure improvements and renovations that will modernize hospital care for this community.

“Every New Yorker deserves access to innovative, high-quality care,” Governor Hochul said. “This historic $1 billion investment into SUNY Downstate’s hospital will contribute to modernization and infrastructure efforts that will lead to a brighter future for this community.”

Governor Hochul worked with the Legislature to provide a historic capital investment in SUNY Downstate. The Governor championed $750 million in capital funding for SUNY Downstate’s hospital in the 2024-25 and 2025-26 Enacted State Budgets. The Governor directed SUNY to dedicate its anticipated $50 million annual capital allocations in each of the next seven years to bring the total investment to more than $1 billion.

This plan to make improvements to SUNY Downstate Hospital was developed by The SUNY Downstate Community Advisory Board, consisting of health care and community leaders who worked throughout the past nearly six months to gather input and ideas directly from the community to inform the proposal.

The Advisory Board’s report recommends:

• Retaining all current inpatient and outpatient services, including maternity and kidney transplant services
• Converting all double occupancy rooms to private rooms with showers and add additional rooms, resulting in 225 operational beds (with the goal of increasing the current 165 average daily census)
• Modernizing and expanding the emergency department to 45 stations
• Establishing and renovating dedicated inpatient specialty units for cardiology, oncology, and orthopedics
• Building a new hospital annex, including a state-of-the-art ambulatory surgery center that expands services in oncology and cardiology
• Addressing the mechanical, electrical, and plumbing infrastructure issues that have resulted in repeated system failures
• Improving leadership and operations to work towards operational sustainability

After gathering public and stakeholder input over many months, the approach recommended by the advisory board was presented to the public as an option under consideration at the fourth public hearing on April 28. Materials from the public hearings are available here.

Last year, SUNY Downstate’s hospital faced a $100 million annual deficit and was at risk of being unable to operate without additional funding, while contending with a hospital facility in disrepair and vulnerable to major crises, including recent major infrastructure incidents.