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Big Tupper Developer Was Indicted 11 Years Ago For S&L Fraud

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Pennsylvania developer and attorney Michael Foxman has unveiled a massive plan to redevelop the Bigger Tupper ski area in Tupper Lake. The proposal includes more than 800 vacation homes and a new Adirondack-style ski lodge. According to legal documents acquired by North Country Public Radio, Foxman was indicted eleven years ago as part of a savings and loan scandal. The collapse of a Florida S&L co-founded by Foxman cost taxpayers 680 million dollars. His case never went to trial, but two of Foxman's law partners in Philadelphia were convicted of fraud. Two Florida real estate developers involved in the scheme also pleaded guilty in the case. As Brian Mann reports, Foxman says he was never involved in any wrong-doing. Local government leaders in Tupper Lake say they're confident that his plan for the community is credible.

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