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Real Estate Fraud

Politics
Trump Sues NY Attorney General In Effort To Block Probe Of Company Trump Sues NY Attorney General In Effort To Block Probe Of Company
Trump Sues NY Attorney General In Effort To Block Probe Of Company In a last-ditch bid to stop a “witch hunt” probe into his company, former President Donald Trump announced that he is suing New York Attorney General Letitia James in an effort to halt her two-year-long inquiry. Trump and his company filed the federal lawsuit on Monday, Dec. 20 to block James’ ongoing civil investigation into the Trump Organization. James had been investigating whether the Trump Organization misstated the value of certain real estate assets to obtain better interest rates, while lowering tax obligations, after the former president's former attorney Michael Cohen made those …

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by Zak Failla
News
Area Real Estate Developer Sentenced For $58M Ponzi Scheme Area Real Estate Developer Sentenced For $58M Ponzi Scheme
Area Real Estate Developer Sentenced For $58M Ponzi Scheme A real estate developer will spend time behind bars for operating a years-long $58 million Ponzi scheme that included properties in the area. Michael D’Alessio, 53, was sentenced on Friday, April 5 to six years in prison for his elaborate scheme to defraud investors in luxury real estate developments in Manhattan, the Hamptons, Westchester and elsewhere.  In addition to the prison term, D'Alessio was sentenced to three years of supervised release and order to pay forfeiture in the amount of $58,090,047. D'Alessio is the former president and CEO of real estate development firm Michael …

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by Joe Lombardi
News
Investors In Fairfield County Seek $17M From Developer In Fraud Suit Investors In Fairfield County Seek $17M From Developer In Fraud Suit
Investors In Fairfield County Seek $17M From Developer In Fraud Suit More investors from Westchester and Connecticut are demanding at least $17 million in damages and a court order stopping White Plains developer Michael D’Alessio and Michael Paul Enterprises from selling or transferring properties. They claim he misappropriated their funds on housing projects in Scarsdale and Manhattan. D’Alessio and his enterprises carried out a massive scheme to defraud them, investors allege in three lawsuits filed in Westchester Supreme and County Court. The Westchester Bank also sued, demanding $881,000 on a $1 million loan D’Alessio took out in 2015, according to new…

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by Jon Craig