Brother of disgraced White Plains developer accused of aiding fraud

TRD New York /
May.May 08, 2019 05:17 PM

A month after former Westchester County developer Michael D’Alessio received a six-year prison sentence for running a $58 million Ponzi scheme, his brother has been sued by a bankruptcy trustee overseeing the dissolution of his former White Plains-based development firm Michael Paul Enterprises, according to Daily Voice Plus. Marianne O’Toole, a Katonah-based attorney handling the liquidation of D’Alessio’s estate, claims that Ronald D’Alessio sought to help his brother by engaging in suspicious money transfers and potentially bogus property transactions to protect certain assets. Ronald D’Alessio, a resident of Eastchester, did not return the DVP’s request for comment. The Real Deal reported in April that two former Manhattan buildings owned by the convicted D’Alessio had been sold for a total of $38 million to a California-based buyer in a bankruptcy auction. [DVP]


Related Articles

arrow_forward_ios
Placeholder image

Phase-two planning kicks off at $500M development in Hyde Park

Placeholder image

Bank claims DMX ‘abused’ bankruptcy system to nix Mt. Kisco home foreclosure

Placeholder image

Danbury power company snaps up Bridgeport energy plant for $35.4M

Placeholder image

Newmark Knight Frank completes 4 office leases in Greenwich and Stamford

Placeholder image

Former Carnegie estate modeled after Scottish castle hits market at $14M

Placeholder image

Sandra Lee, NY Gov. Andrew Cuomo list New Castle home for $2.3M

Placeholder image

Fairfield County malls seek to adapt in light of retail’s ‘Amazon effect’

Placeholder image

Affordable assisted living facility proposed in Mount Vernon

arrow_forward_ios