Another 15 investors have sued former White Plains real estate developer Michael DAlessio, claiming he misrepresented his finances on bankruptcy forms, including gambling debts, in diverting $2.8 million from projects they were financing.
DAlessio used his companies to carry out a massive fraud on numerous investors, the bankruptcy court complaint, filed on Aug. 13, stated. He allegedly used false information to solicit investments and then used the money to enrich himself or pay other investors in order to perpetuate a fraud.
Numerous lawsuits have been filed in the past year against DAlessio, alleging fraud and misappropriation of funds in several failed real estate projects. In April, …
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