The Nation - News from June 19, 1989

The former New York regional director of the Department of Housing and Urban Development received a $125,000-a-year job from businessmen who shared in a $17-million profit from a government contract the official helped to award, New York Newsday reported. Joseph Monticciolo left his government job last year to become an executive of the Eagle Capital Group, an investment group headed by developer Sheldon Goldstein. Newsday reported that both Eagle and Monticciolo are being investigated by Congress in a probe of political favoritism at HUD. Also, the New York Times reported that more than half the money New York state received from a special discretionary HUD fund went to projects pushed by Sen. Alfonse M. D’Amato (R-N.Y.).