not a criminal investigation into BofA and its mortgage death star Countrywide? This suit is a joke on the American taxpayers and a sign that the Obama administration remains afraid of holding these giant institutions to the rule of law. Michael Mastro must be wishing he were a Too Big to Exist Bank.
The 43-count grand jury indictment accuses Michael Mastro and his wife, Linda, of fraudulently transferring interest in their $15 million home in the tony Seattle suburb of Medina; failing to disclose a bank account that contained hundreds of thousands of dollars; and lying about the whereabouts of
The U.S. attorney's office in Seattle said Thursday that a 43-count grand jury indictment accuses Michael Mastro and his wife, Linda, of concealing a bank account of more than $760,000 from his creditors. Prosecutors say they've also lied about the whereabouts of two huge diamonds valued at $1.4 mil
Date: Oct 25, 2012
Category: U.S.
Source: Google
Elderly Seattle developer, wife arrested in France
Police arrested Michael Mastro, 87, and his wife, Linda, at the request of American authorities, said Kayla Celaya, a supervisory deputy with the U.S. Marshals Service. The arrests came in the town of Annecy, near the Swiss border in southeastern France.Many of the couple's personal items have been sold at auction to repay Michael Mastro's creditors. Dozens of designer handbags sold for up to $900 apiece; a baby grand piano sold for $17,000; and a Dale Chihuly chandelier sold for $35,000. Their 2007 Bentley convertible went for $92,500.
Michael Mastro, now 87, was a longtime and prolific real-estate developer and lender whose website alluded to his "billion-dollar career." But his highly leveraged empire fell apart when the market tanked.