Joseph Aquino axed by Elliman over Consolo commission dispute

Retail broker claimed his cuts were improperly ducked

New York /
Mar.March 19, 2016 01:55 PM

Douglas Elliman’s Joseph Aquino, right-hand man to retail chair Faith Hope Consolo, has been terminated from his position at the company over claims Elliman stiffed him on commissions.

“Mr Aquino was terminated yesterday,” Cindy Salvo, an attorney for Aquino, told The Real Deal. 

The broker’s departure comes just two days after Aquino filed suit against the firm, alleging it improperly deducted over $1 million of his commissions to pay for Consolo’s extravagant personal expenses. Some of his commissions went to pay for his boss’ spa treatments, cashmere sweaters, beauty supplies, and her $100-a-day makeup session, he claimed in the lawsuit, filed Thursday in New York Supreme Court.

Aquino also claimed that when he approached Elliman Chairman Howard Lorber about the commissions, Lorber threatened to “blackball” him from the industry if his complaints continued.

Douglas Elliman took more than a million dollars in deductions from Mr Aquino over the years while refusing to itemize or provide backup documentation for these deductions, and threatening to terminate him and blackball him in the industry if he complained,” Salvo told TRD Saturday. “Deductions for Consolo’s personal expenses were just a small part of the improper deductions taken from Mr Aquino’s commissions.”

In a statement sent late Friday, Marc Kasowitz, an attorney for Elliman, called the suit “a desperate effort by Mr. Aquino to get an undeserved payday.”

“Mr. Aquino’s alleged statements about Mr. Lorber are equally false, defamatory and desperate,” he said.

A spokesperson for Elliman wasn’t immediately available for comment on the termination.


Related Articles

arrow_forward_ios
John Giannone and Jac Credaroli (Credit: iStock)
Two Elliman agents launch platform to provide renters, buyers and sellers up to $50K in unsecured loans
Two Elliman agents launch platform to provide renters, buyers and sellers up to $50K in unsecured loans
Jacob Sudhoff and Scott Durkin (Credit: Sudhoff Companies, Emily Assiran, iStock)
Douglas Elliman is coming to Texas
Douglas Elliman is coming to Texas
Douglas Elliman chairman Howard Lorber (Credit: Getty Images and iStock)
Elliman’s revenue rose 18%, after sales frenzy to avoid New York’s new transfer tax
Elliman’s revenue rose 18%, after sales frenzy to avoid New York’s new transfer tax
Christopher Riccio
Christopher Riccio joins Douglas Elliman, bids Leslie J. Garfield farewell
Christopher Riccio joins Douglas Elliman, bids Leslie J. Garfield farewell
Westchester continues to see strong sales despite low inventory  (Getty)
Westchester home sales stayed strong in Q1
Westchester home sales stayed strong in Q1
(iStock)
Brooklyn, Manhattan rental markets “beginning to pivot”
Brooklyn, Manhattan rental markets “beginning to pivot”

Luba Marks and 1210 Meadow Lane (Wikipedia, Elliman, iStock)
Luba Marks’ Southampton home, asking $37M, in contract
Luba Marks’ Southampton home, asking $37M, in contract
Redfin CEO Glenn Kelman, Compass CEO Robert Reffkin and eXp CEO Jason Gesing. (Getty, Redfin, eXp)
Compass, eXp rise in Real Trends’ annual brokerage rankings
Compass, eXp rise in Real Trends’ annual brokerage rankings
arrow_forward_ios

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

Loading...