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Luxury developer Michael D’Alessio facing prison for $58M swindle

He commingled investors’ funds in “Ponzi-like fashion,” according to a news release from U.S. Attorney Geoffrey S. Berman, and channeled the funds through a series of shell companies.

Feds accuse developer Michael D’Alessio of wire fraud and demand forfeiture

D'Alessio was already facing numerous accusers and creditors who want pieces of his real estate empire.

Banks ask bankruptcy court to force D’Alessio liquidation

The Westchester Bank, Greater Hudson Bank and BNB Bank claim that Michael D’Alessio owes them more than $6.3 million.

Investors seek $17M from White Plains developer Michael D’Alessio in fraud...

Investors claim that D’Alessio and his enterprises have carried out a “massive scheme” to defraud them.

Investors sue to review financial books of White Plains developer

Investors demand right of inspection to condominium projects affiliated with Michael Paul Enterprises, alleging possible commingling of funds.