Robert Kahan, 67, was indicted a week and a half ago after he allegedly swiped local, state and federal money intended for low-income housing development projects.
TRENTON — Shackled at his feet and in the custody of federal marshals, city developer Robert Kahan pleaded not guilty today to 25 counts of bank fraud, mail fraud and fraud against a local government receiving federal benefits.
Kahan, 67, was indicted a week and a half ago for allegedly skimming local, state and federal funds intended for three housing projects in Trenton. He allegedly spent hundreds of thousands of dollars on personal items including a Florida condo and his daughter's wedding.
Kahan, who is listed as residing in Sunny Isles Beach, Fla., runs Tara Developers, one of the primary developers in Trenton during the second decade of Mayor Douglas H. Palmer's tenure. Palmer was not charged in Kahan's alleged scheme.
Judge Peter Sheridan accepted an application from the defense and prosecution that would designate the matter a complex case. That would grant both sides extra time to go through large amounts of evidence and prepare for a trial.
The hearing only lasted a few minutes, and as Kahan was getting ready to leave Assistant U.S. Attorney J. Fortier Imbert said he did not object to Kahan being unshackled by the court marshals.
Kahan's bail was set at $500,000. He put up his Florida property as bond and was released from custody.
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