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Spitzer’s Office Adds $250 Million to State Coffers Eliot Spitzer’s office won $786 million last year in judgments and settlements — the highest ever — up from $352 million the year before, the Wall Street Journal reported. "As a result of the office's activities, more than half a billion dollars will be returned to individual New Yorkers, and another $250 million will go to the state's coffers, which will reduce the tax burden on state residents and businesses," Spitzer said in a statement. Spitzer’s high-profile investigations of Wall Street firms account for about $418 million, but cases were not limited to mutual funds and investment firms. Big and small cases were investigated all over the state. For example, Household Finance, a mortgage lender, paid more than $37 million to borrowers after being accused to overcharging them. A health club chain that closed in western New York without giving refunds of prepaid memberships was forced to provide them. A Queens travel agency that also closed its doors abruptly was forced to repay customers who had paid for overseas trips. Spitzer’s successes have made him well-known not only in New York, but across the country, prompting speculation that he may run for governor or become a U.S. attorney general if Sen. John Kerry is elected president. AccountingWEB.com Apr-13-2004 Categories: CEOs, Finance, Trends, News Archives Times read: 1207
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