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Thursday, October 16, 2014

Airbnb nets $40M in illegal NY listings: AG

Airbnb raked in nearly $40 million in New York over the last several years on illegal listings that violated zoning laws, cheated the city out of millions of tax dollars and made a select few property owners very wealthy, the state attorney general said. More than 70 percent of the company's New York City listings are illegal, but that hasn't stopped commercial enterprises from using the service to operate multimillion-dollar businesses, according to a new state report.

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