NY Taxi Drivers Overcharged $8 Million. In what the New York Post dubs a “mind-boggling ripoff,” the city’s Taxi and Limousine Commission revealed yesterday that 1.8 million passengers were affected by a scheme that charged suburban rates inside the city. According to officials, 35,558 of the city’s 48,300 taxi drivers were caught at least once secretly switching their meters to fare code No. 4, which is for trips outside the city, rather than code No. 1, for those within the five boroughs. The move cost passengers an average of $4 to $5 extra per trip, for a total of $8.3 million. Seeing as though the practice is so widespread, officials believe the real number of passengers who fell victim is really much larger. Within the next few weeks, meters will be equipped with a mechanism to make it more evident for passengers when the higher rate is being charged. Read original story in The New York Post | Saturday, March 13, 2010

So now it is not just Wall Street that may rip you off when you are in New York City. via Slate Magazine