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Father/Son Owners Of Area Auto Dealership Charged With Tax, Bank Fraud Father/Son Owners Of Area Auto Dealership Charged With Tax, Bank Fraud
Father/Son Owners Of Area Auto Dealership Charged With Tax, Bank Fraud A father and son who own a Hudson Valley auto dealership are facing charges for an alleged multi-million dollar tax and bank fraud scheme. Central Valley residents Mehdi and Saeed Moslem, the owners of the Exclusive Motor Sports car dealership in their Orange County hometown, were arrested and indicted for their roles in conspiring to defraud the United States, U.S. Attorney Geoffrey Berman announced. It is alleged that from 2009 through 2016, Mehdi Mosel, 70 and his son, 35, concealed millions of dollars in profits from the IRS that were tied to their dealership. Berman said that to fals…

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by Zak Failla
News
Honda Recalls 1.6M Vehicles Due To Potentially Deadly Airbags Honda Recalls 1.6M Vehicles Due To Potentially Deadly Airbags
Honda Recalls 1.6M Vehicles Due To Potentially Deadly Airbags Honda is recalling 1.6 million vehicles nationwide due to potentially deadly Takata airbag inflators, completing its required recall of nearly 13 million vehicles. The recall will affect Honda and Acura vehicles in the United States. According to the U.S. National Highway Traffic Safety Administration (NHTSA), Takata used ammonium nitrate to create a small explosion and inflate airbags in a collision. But the chemical can deteriorate when exposed to high temperatures and humidity and blow apart a metal canister, spewing out shrapnel. Affected Honda models include the 2001-2012 Accord,…

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by Zak Failla
Business
Sears Announces This Westchester Store Will Be Latest To Close Sears Announces This Westchester Store Will Be Latest To Close
Sears Announces This Westchester Store Will Be Latest To Close This story has been updated. As Sears continues to struggle to survive in a market filled with instant deliveries and the internet, the company announced on Wednesday, June 5, that another of its Westchester stores will close its doors. “As we continue to evaluate our store network and invest in our best stores, the Sears store in Yonkers at Cross Country Shopping Center did not meet our go-forward criteria," a Sears company spokesperson told Daily Voice. The store will close in late July and the store liquidation sale will start around Thursday, June 6, the spokesperson said. "We invite …

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by Kathy Reakes
Business
Friendly's Closes 23 Restaurants, Including In New York, Connecticut Friendly's Closes 23 Restaurants, Including In New York, Connecticut
Friendly's Closes 23 Restaurants, Including In New York, Connecticut Friendly's is closing 23 more of its restaurants in the Northeast, including in New York and Connecticut. The closures will occur when the leases are up of the affected restaurants. "While this was a tough decision, we are confident it will best position the brand for a bright future," Friendly's CEO George Mitchell wrote in a letter to franchise owners in April. "Especially difficult is the impact these closures will have on the locations' wonderful employees, who we are working to support with opportunities in other locations or severance payments and other assistance." Fourteen of …

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by Donna Christopher
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Ousted Deputy Police Commissioner's Company In Westchester Files For Bankruptcy Ousted Deputy Police Commissioner's Company In Westchester Files For Bankruptcy
Ousted Deputy Police Commissioner's Company In Westchester Files For Bankruptcy The hits keep coming for former Mount Vernon Deputy Police Commissioner Joseph Spiezio, whose business is reportedly filing for bankruptcy two weeks after he lost his position for driving a city vehicle with a suspended license. Spiezio, who is in the process of selling Waste Services Inc. to a Connecticut company has filed for bankruptcy, according to a lohud report. Spiezio reportedly stated that he can only follow through with the sale following bankruptcy hearings due to a lawsuit by the National Labor Relations Board. According to the report, in bankruptcy court, Spiezio listed his com…

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by Zak Failla
Business
Payless Going Out Of Business, With Eight Westchester Stores Among Closures Payless Going Out Of Business, With Eight Westchester Stores Among Closures
Payless Going Out Of Business, With Eight Westchester Stores Among Closures Another iconic retailer is going out of business. Payless ShoeSource will be closing all of its 2,100 remaining stores in the U.S. and Puerto Rico. The chain had filed for Chapter 11 bankruptcy protection nearly two years ago, closing hundreds of stores as part of its reorganization. Liquidation sales start Sunday, Feb. 17 with all stores staying open until the end of March with many others remaining in business until May. Store closures in the Hudson Valley and Fairfield County are as follows: Hudson Valley Westchester County Burlington Shopping Center, Yonkers Cortlan…

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by Joe Lombardi
Business
Fashion Retailer Charlotte Russe To Close Stores In Westchester, Rockland Fashion Retailer Charlotte Russe To Close Stores In Westchester, Rockland
Fashion Retailer Charlotte Russe To Close Stores In Westchester, Rockland Another traditional brick-and-mortar retailer will soon be shuttering its doors in the Hudson Valley. Charlotte Russe Holding Corp., which operates Charlotte Russe, a fashion brand for females filed for Chapter 11 bankruptcy protection over the weekend, impacted local stores. The company announced that it is planning to close 94 stores, including locations at the Jefferson Valley Mall in Yorktown Heights and Rockland Plaza on Route 59 in Nanuet. The stores at the Galleria Mall in White Plains and Palisades Center in West Nyack were not on the initial list of locations closing. Charlotte Ru…

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by Zak Failla
Business
Seasons Kosher Supermarket To Reopen In Westchester After Bankruptcy Seasons Kosher Supermarket To Reopen In Westchester After Bankruptcy
Seasons Kosher Supermarket To Reopen In Westchester After Bankruptcy Seasons, the nation’s largest kosher supermarket chain, which was forced to declare bankruptcy late last year, is returning to Westchester with new owners. Under the management of businessman Joseph Bistritzky's family, Seasons will be reopening their 12,000-square-foot location in Scarsdale, in time for Passover. Other openings are planned in Clifton, Lakewood, Lawrence and Queens, The Scarsdale location will reopen at 1 p.m. on Sunday, March 3 in the Golden Horseshoe Shopping Center on Wilmot Road. The new location will seem supersized to shoppers, with a new state-of-the-art kitchen and…

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by Zak Failla
Business
40 New Sears, Kmart Store Closures Announced, Including Three In NY 40 New Sears, Kmart Store Closures Announced, Including Three In NY
40 New Sears, Kmart Store Closures Announced, Including Three In NY Less than a month after it filed for bankruptcy and announced the closures of 142 Sears and Kmart stores, Sears Holdings is saying it's planning to close another 40 stores in February. The new round of closures means there will be roughly 660 Sears and Kmart stores still open. Liquidation sales at the 40 locations set to close will start late next week.  There are three stores slated to shut down in New York among those 40: Kmart 805 New York Ave., Huntington Sears, 3065 Route 50, Saratoga Springs Sears, 21182 Salmon Run Mall, Watertown  The one store in Connecticut in the ne…

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by Joe Lombardi
News
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…

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by Zak Failla
Business
Nearly 200 Sears, Kmart Workers In Area Will Lose Jobs Following Bankruptcy Declaration Nearly 200 Sears, Kmart Workers In Area Will Lose Jobs Following Bankruptcy Declaration
Nearly 200 Sears, Kmart Workers In Area Will Lose Jobs Following Bankruptcy Declaration Nearly 200 Sears and Kmart employees will lose their jobs following the official filing for bankruptcy by Sears Holdings. Last week, Sears announced that it would be closing another 142 unprofitable Sears and Kmart locations, including several in the area. Those closures will reportedly impact According to the Worker Adjustment and Retraining Notification filed on Oct. 15, 42 employees at Kmart on Route 6 in Mahopac would be let go; 55 employees at Sears in the Jefferson Valley Mall would face termination; 76 employees at the Sears at The Shops in Nanuet; and 12 at Sears on Route 59 in Nanu…

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by Zak Failla
Business
Updated Sears/Kmart Closure List: Several Stores In Area Among 142 To Close Updated Sears/Kmart Closure List: Several Stores In Area Among 142 To Close
Updated Sears/Kmart Closure List: Several Stores In Area Among 142 To Close Sears, once the world's largest retailer, has now officially filed for bankruptcy, while announcing plans to close another 142 unprofitable Sears and Kmart stores, including several in the area. The Sears closures include two in the Hudson Valley: at 75 West Route 59 in Nanuet and at 600 Lee Boulevard in Yorktown. Two Sears stores in Connecticut are closing: at 1201 Boston Post Road in Milford (Lands' End) and 850 Hartford Turnpike in Waterford (Lands' End). Among stores closing are five Kmarts in New York, including the Kmart at 987 Route 6 in Mahopac. No Kmart closures in Connecticut are…

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by Joe Lombardi