Michael D'Alessio Michael D’Alessio

NEW YORK CITY—In federal court, White Plains-based real estate developer and contractor, Michael D’Alessio, 53, pled guilty to one count of committing wire fraud, and one count of concealing assets from a bankruptcy court. Geoffrey S. Berman, the US Attorney for the Southern District of New York, had filed an indictment against the real estate developer in August 2018 as reported in GlobeSt.com.

D’Alessio’s company developed luxury residential real estate in Manhattan, the Hamptons and Westchester. Prosecutors accused him of seeking investments by selling shares in newly formed limited liability companies named after the properties, and promising monthly interest payments and a share in the profits at the sales of the properties. However, the US Attorney’s office alleged that from 2015 through April 2018, D’Alessio misappropriated investors’ funds, channeling them through a series of shell accounts that he controlled.

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Betsy Kim

Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.

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