Real estate attorney Luigi Rosabianca charged with grand larceny, held on $4.5M bail

Disbarred lawyer arrested Tuesday, allegedly stole over $4M from clients

New York /
Oct.October 27, 2015 08:20 PM

Disbarred real estate attorney Luigi Rosabianca was arrested Tuesday and indicted on six counts of grand larceny for allegedly stealing more than $4.4 million from clients, The Real Deal has learned.

Rosabianca was arraigned in New York State Supreme Court on one count of first-degree grand larceny and five counts of second-degree grand larceny. A judge set bail at $4.5 million, with the case adjourned to January, according to law enforcement officials.

The office of Manhattan District Attorney Cyrus Vance, Jr. is charging Rosabianca — the founder of law firm Rosabianca & Associates and brokerage WIRE International Realty — with stealing more than $4.4 million in real estate proceeds from six different clients. He is being held at the Manhattan Detention Complex in Chinatown. A call to his law firm was not returned.

A prominent real estate attorney who specialized in representing high-net-worth foreign buyers, Rosabianca was disbarred earlier this year after the courts found that he violated the terms of a prior suspension. The Appellate Division First Department had suspended him from practicing law in March, after finding evidence that he mishandled client funds and refused to cooperate with an investigation.

At the time of disbarment, the court also appointed a receiver to oversee Rosabianca’s attorney trust account in light of evidence that he made improper transfers – including $1.5 million in client funds to “what was believed to be an Italian banking or investment firm.”

In previous WIRE press releases, Rosabianca was identified as a principal and broker of record for the firm, and was quoted as saying that the company had “experienced great transactional success in the U.S. with Americans and foreign nationals alike.”

But after his suspension, Rosabianca told TRD that he was no longer affiliated with WIRE and had no management or ownership in the firm.


Related Articles

arrow_forward_ios
The summer months tend to heat up the rental market but victims of rental scams lose the most money in the summer (iStock)
As summer heats up, so do rental scams
As summer heats up, so do rental scams
Ivan Acedveo and Dane Roseman pleaded guilty Monday to their roles in a scheme that bilked thousands of property investors. Robert Shapiro, above, the mastermind, was sentenced in 2019.
Last defendants in $1B real estate Ponzi scheme plead guilty
Last defendants in $1B real estate Ponzi scheme plead guilty
John Simonlacaj (The Xi, Getty)
Ex-HFZ exec sentenced to 4 months in Mafia-linked bribery scheme
Ex-HFZ exec sentenced to 4 months in Mafia-linked bribery scheme
Craig Hollander and 55 Cooper Street (Linecity, Google Maps)
Corcoran agent accused of racial, income discrimination by Section 8 renters
Corcoran agent accused of racial, income discrimination by Section 8 renters
Ronald Olson pleaded guilty to the tax evasion charge last July (iStock)
Former Turner Construction exec sentenced to 4 years in prison
Former Turner Construction exec sentenced to 4 years in prison
From left: Alvin Dworman, 155 East 55th Street, 65 West 55th Street, and 210 East 58th Street (Getty, Google Maps)
Alvin Dworman Sells 3 Manhattan Buildings for $65M
Alvin Dworman Sells 3 Manhattan Buildings for $65M
A former building inspector used his leave of absence to work with a Brooklyn construction firm (Getty)
Ex-building inspector prosecuted for “double dipping” with construction firm
Ex-building inspector prosecuted for “double dipping” with construction firm
Attorney Mitchell Kassoff, in photo at far right, is now being investigated by federal authorities along with the Manhattan District Attorney's Office. Walter Mack, his lawyer, is pictured at top left. (Getty, Doar Law)
Feds investigating AWOL real estate attorney
Feds investigating AWOL real estate attorney
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...