Stockpicker David Sans claimed a $24,000 salary (a year) to win an upmarket, low-rent apartment inside the luxe Ohm apartment tower on Manhattan shortly before confirming a salary of $238,000 on his tax forms.
Judge Stoller affirmed Sans' "sizable under-reporting of his income implicates his eligibility to be a tenant in the subject premises and constitutes a material misrepresentation." The court ruled that Sans lacked a valid explanation for why his income grew on different filings and ordered him to move out.
David Sans received the apartment with only $722-a-month rent, instead of $4,000-a-month, due to special "moderate" rates offered by Douglaston Development on 20% of the apartments in Ohm rental tower in order to avoid paying property taxes for 20 years.
Sans was one of 160 high-income residents caught by New York State Comptroller Thomas DiNapoli last year renting subsidized apartments meant for low-income earners.
Only low-income applicants are eligible for the "affordable" apartments and they must provide evidence of their income to qualify.