Tag:

Michael D'Alessio

Westchester Real Estate Developer Sentenced For Operating Ponzi Scheme, Ordered To Forfeit $58M Westchester Real Estate Developer Sentenced For Operating Ponzi Scheme, Ordered To Forfeit $58M
Westchester Real Estate Developer Sentenced For Operating Ponzi Scheme, Ordered To Forfeit $58M 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 …
Westchester Developer Admits To Ponzi Scheme, Could Face Decades In Prison Westchester Developer Admits To Ponzi Scheme, Could Face Decades In Prison
Westchester Developer Admits To Ponzi Scheme, Could Face Decades In Prison A real estate developer has admitted to operating a years-long Ponzi scheme that included properties in Westchester. Michael D’Alessio, 53, has pleaded guilty to one count of committing wire fraud and one count of concealing assets from a bankruptcy court. He faces up to 20 years in prison and hundreds of thousands of dollars in fines when he is sentenced on March 22 next year. The elaborate scheme involved defrauding investors of luxury real estate developments in Manhattan, the Hamptons, Westchester and other locales. D'Alessio is the former president and CEO of real estate deve…
White Plains Real Estate Developer Charged With Operating Ponzi Scheme White Plains Real Estate Developer Charged With Operating Ponzi Scheme
White Plains Real Estate Developer Charged With Operating Ponzi Scheme A real estate developer is facing up to two decades behind bars for operating an alleged years-long Ponzi scheme that included properties in the Hudson Valley. Michael D’Alessio, 52, has been charged with committing wire fraud in connection to his elaborate scheme to defraud investors in luxury real estate developments in Manhattan, the Hamptons, Westchester and elsewhere. D'Alessio is the former president and CEO of real estate development firm Michael Paul Enterprises in White Plains. A career real estate developer and contractor, D’Alessio was the CEO of an investment and development fi…