Convicted Italian cosmetics executive could lose 15 CPW aprtment

New York Weekend Edition /
May.May 14, 2017 11:30 AM

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
Sheikh Sultan A. Al Qasimi and 15 Central Park West (Google Maps)
Tax lien triggers foreclosure filing on sheikh’s 15 CPW unit
Tax lien triggers foreclosure filing on sheikh’s 15 CPW unit
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
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
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
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
Say ahhhh: Dentist’s 15 CPW pad hits market asking $27M
Navigation
Garmin co-founder Min Kao lists 15 CPW penthouse for $55M
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
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
“Limestone Jesus” 15 CPW is New York’s top-performing condo tower: report
arrow_forward_ios

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

Loading...