Convicted Italian cosmetics executive could lose 15 CPW aprtment

TRD WEEKEND EDITION /
May.May 14, 2017 11:30 AM
Piofrancesco Borghetti and 15 CPW (Credit: Getty)

Piofrancesco Borghetti and 15 CPW (Credit: Getty)

Italian cosmetics mogul Piofrancesco Borghetti, the former head of perfume company Limoni, was convicted for embezzling from his Milan-based company. It is now believed that he used those embezzled funds to allegedly buy his three-bedroom condo at 15 Central Park West, according to the New York Post

In early 2012, shortly after he was indicted, Borghetti slapped his apartment on the market asking $27.7 million. It failed to sell and he began renting the apartment for $45,000 a month. By 2014, Borghetti was convicted and he has been in custody in Italy since December.

Now, authorities are going after his 2,761-square-foot apartment. Limoni and another company hurt in the scheme, Castinghome GMBH, want a combined $6.6 million in judgments against Borghetti in New York, according to the Post. That could mean a forced sale of the apartment is eminent.[NYP]Christopher Cameron


Related Articles

arrow_forward_ios
From left: 220 Park Avenue South, 15 Central Park West, 520 Park Avenue, 35 Hudson Yards, Sting, Juan Beckmann Vidal, Daniel Och, Bob Diamond, and Stephen Ross (Credit: Getty Images, Wikipedia, StreeEasy, and Google Maps)

Serial buyers trade “old” condos for new on Billionaires’ Row

Sam Chang and 40 West 45th Street (Credit: Google Maps and iStock)

Sam Chang can now purchase 160 elite racing pigeons

15 Central Park West and Och-Ziff Capital Management founder Daniel Och (Credit: StreetEasy and Getty Images)

Daniel Och wants $12K a foot for his 15 Central Park West penthouse

Unit 34C at 15 Central Park West (Credit: iStock)

Say ahhhh: Dentist’s 15 CPW pad hits market asking $27M

Navigation

Garmin co-founder Min Kao lists 15 CPW penthouse for $55M

These Chinese buyers upgraded from 15 CPW to 220 CPS

These Chinese buyers upgraded from 15 CPW to 220 CPS

“Limestone Jesus” 15 CPW is New York’s top-performing condo tower: report

“Limestone Jesus” 15 CPW is New York’s top-performing condo tower: report

Heiress with a taste for real estate revealed as buyer of Sting’s $50M pad

Heiress with a taste for real estate revealed as buyer of Sting’s $50M pad

arrow_forward_ios
Loading...