Studio 54 Founder Ian Schrager Gets Pardon From Obama on Tax Charge
Image by Getty Images
More than three decades after he ran afoul of his federal taxes, New York City real estate developer Ian Schrager is receiving a pardon from outgoing President Barack Obama.
Schrager, the founder of Manhattan’s famous Studio 54 nightclub, served almost two years in federal prison after being judged guilty on charges of tax evasion back in 1980.
The presidential action has no practical impact on Schrager, who also had to pay $20,000 in restitution.
Schrager grew up in a Jewish family in Brooklyn before he and business partner Steve Rubell started Studio 54, which defined urban cool in the late ‘70’s and early ‘80’s. President-elect Donald Trump was a frequent visitor to the nightclub in its heyday.
He’s up to more boring stuff today, currently heading the Ian Schrager Company, which has developed a number of city hotels since its inception a decade ago and is currently building a new complex of condominiums on Leroy Street in the West Village.
Contact Daniel J. Solomon at [email protected] or on Twitter @DanielJSolomon
This is a moment of great uncertainty. Here’s what you can do about it.
We hope you appreciated this article. Before you go, we’d like to ask you to please support the Forward’s independent Jewish news this Passover. All donations are being matched by the Forward Board - up to $100,000.
This is a moment of great uncertainty for the news media, for the Jewish people, and for our sacred democracy. It is a time of confusion and declining trust in public institutions. An era in which we need humans to report facts, conduct investigations that hold power to account, tell stories that matter and share honest discourse on all that divides us.
With no paywall or subscriptions, the Forward is entirely supported by readers like you. Every dollar you give this Passover is invested in the future of the Forward — and telling the American Jewish story fully and fairly.
The Forward doesn’t rely on funding from institutions like governments or your local Jewish federation. There are thousands of readers like you who give us $18 or $36 or $100 each month or year.
Support our mission to tell the Jewish story fully and fairly.
