NEW JERSEY — New Jersey real-estate developer Richard M. Smith, who was indicted on felony charges stemming from the Saratoga Springs scandal, has asked the U.S. government for an additional $1 billion to help pay for the construction of his development in the state.
The request was filed with the U,S.
Treasury Department, and is a response to a lawsuit filed by Smith’s company, Smith Property Development LLC.
The lawsuit, filed in U.C.L.A. Superior Court, accuses Smith and his partners of failing to adequately disclose their financial interest in the development and improperly profiting from the development, among other charges.
The Saratogans sued Smith and company in November, accusing them of violating Saratago Springs, New York, zoning laws by leasing land at the former Saratagans mansion for use as an apartment complex.
In September, the U;s Attorney’s Office in New Jersey said it was investigating whether Saratagos property had violated zoning laws.
A trial date for the case is scheduled for Oct. 6.
Smith Property Development has been in the news in recent weeks after a Sarataga Springs jury found him not guilty on felony counts related to his purchase of the property.
A judge ordered him held on $250,000 bail.