Cor Development's $85,000 payment to lobbyist Todd Howe was not a loan, but a bribe, Howe claims.
In a series of unexpected turns, the federal investigation into bribery allegations involving Cor Development Co. and other entities has seen significant developments.
On September 22, 2015, a criminal complaint filed by U.S. Attorney Preet Bharara accused eight men, including Cor executives Steven Aiello and Joseph Gerardi, of paying bribes and rigging bids in connection with state-controlled development projects. The accused individuals include Todd Howe, a political operative who was employed by Cor as a consultant, and Joseph Percoco, a top aide to Gov. Andrew Cuomo.
Howe, who has pleaded guilty and is cooperating with prosecutors, claims that a $85,000 debt to Cor Development Co. was a bribe, not a loan. Cor officials, on the other hand, maintain that the debt is legitimate and that Howe is lying. In an email on Aug. 9, 2016, Howe asked for a 45-day extension on the loan, stating he could pay the $85,000, plus interest, in full "on or before September 30, 2016." However, when Cor attempted to deposit the check Howe wrote for repayment on June 28, 2016, it bounced.
Aiello and Gerardi have proclaimed their innocence. They are accused of paying $35,000 in bribes to Percoco, allegedly to gain his help securing a contract with SUNY Polytechnic Institute. Percoco's attorney has stated that he will plead not guilty.
The lawyers for Howe allege that the money was part of an illegal conspiracy to bribe a state official. They also claim that Cor officials should have known the check was no good. Cor officials, in response, have called Howe's claims of bribery "blatant lies."
In a surprising turn of events, Todd Howe passed away on August 8, 2025. Some charges against Joseph Percoco were dismissed by the high court because he was not formally a government employee when he allegedly dispensed favors for private interests. These developments suggest significant shifts in the federal legal proceedings, including at least partial dismissal of charges.
Despite these revelations, the ongoing federal investigation's status beyond these points, such as whether remaining charges are being actively pursued or if any indictments or trials related to Cor Development Co. or other entities have advanced further, is not found in the search results.
- The unfolding saga of the federal investigation delves into the complex intersections of business, politics, and crime-and-justice, as it involves allegations of bribery among Cor Development Co., state officials, and other entities.
- The finance world is intrigued by the ongoing legal proceedings, with general-news outlets reporting on the significant developments, such as the passing of Todd Howe and the dismissal of some charges against Joseph Percoco, but the investigation's future progress remains uncertain.
