48°
Percoco, a South Salem resident, was found guilty of two counts of conspiracy to commit honest services wire fraud and one count of solicitation of bribes or gratuities earlier this year and acquitted of two extortion charges related to his acceptance of $300,000 in bribes to benefit Competitive Power Ventures, an energy company that sought to build the power plant in the Hudson Valley. He was cleared of any wrongdoing related to the Syracuse-based COR Development, which had received several sizable state projects.
According to the report, despite the convictions, Percoco is eligible to collect $36,000 a year in pension money, despite a new law that was passed in the fall that would authorize a judge to cut or reduce pension payments for public officials found guilty of a felony crime, but since Percoco’s crimes were committed before Jan. 1, he will not be stripped of his payments.
The report states that if Percoco retires at 62 years old, he would collect a maximum of $36,651.91 annually, though that number could fluctuate. If he retires at 55, he could collect $26,755.90 each year.
Percoco is scheduled to be sentenced on June 11, when he faces up to 50 years in prison.
Click here to follow Daily Voice Monsey and receive free news updates.
