New York’s attorney general announced plans Thursday to sue New York City for $810 million for inflating the price of taxi medallions, which were marketed as a sure-fire investment before ride-hailing apps upended the taxi industry. Attorney General Letitia James filed a notice of claim against the city, which she said auctioned off medallions at artificially high prices between 2004 and 2017 and continued to market the medallions at overvalued rates even after internal reports raised warnings about inflated values. “Government should be a source of justice, not a vehicle for fraudulent practices,” said James, a Democrat.
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