Manhattan D.A. drops charges against Omnibuild over XI fraud
The Manhattan District Attorney’s office dropped its charges against Omnibuild Construction over the firm’s alleged role in an $86 million fraud scheme involving the XI condo tower.
The construction firm entered into a deferred prosecution agreement in April. As part of the deal, an independent monitor was tasked with overseeing the company for at least six months. If Omnibuild complied with the monitor, its charges would be dismissed.
The monitor recommended that the monitorship come to an end and said Omnibuild was in full compliance through its monthly reports and policies, the District Attorney’s office noted at a court appearance in Lower Manhattan on Wednesday. Judge Ann Thompson officially dismissed the charges at the hearing.
The dismissal marks the end to Omnibuild’s criminal case.
The firm claimed it was a victim of a fraud scheme run by luxury real estate firm HFZ Capital and its former managing principal Nir Meir. The company’s employees pleaded with D.A. Alvin Bragg to drop the charges, claiming that news of the indictment cost the firm over $1 billion in work.
Omnibuild’s co-CEO John Mingione and accountant Kevin Stewart were indicted in February 2024 over allegations they conspired with Meir and others to inflate invoices for a condo project on the High Line known as the XI to dupe the lender, the Children’s Investment Fund, to release more money to HFZ. Mingione resigned as co-CEO months later.
In April 2026, Mingione pleaded guilty to one count of criminal conspiracy. He was required to pay a $20,000 fine and complete 100 hours of community service. Mingione finished his community service and his felony plea was reduced to a misdemeanor charge months ago, said Adam Konta of Konta Georges & Buza, who represented Omnibuild and Mingione.
Stewart had pleaded guilty to a misdemeanor charge of criminal facilitation.
Meir is the only defendant initially charged who has not reached a plea deal. Prosecutors alleged Meir was the mastermind of the scheme and charged him with grand larceny, conspiracy and tax fraud in four separate indictments. He is confined to a New York City apartment with electronic monitoring. In July, Meir’s attorney sought more time to reach a resolution outside of a trial. A trial date was set for October. The trial has been postponed to November.
Now Omnibuild can resume business as usual and bid on projects without a court-appointed monitor.
“With this matter now behind us, Omnibuild remains focused on what we do best —- delivering premier construction management services for New York City’’s most ambitious developments, backed by exceptional craftsmanship, expertise, and an unwavering commitment to excellence,” Omnibuild said in a statement.
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