Michael R. Mastro (born June 1, 1925), is a former American real estate developer who is in business for forty years managing medium-sized apartments and office parks in Seattle. He declared bankruptcy in 2009. Mastro and his wife, Linda, a former Bellevue school teacher, moved to France in 2011. They were arrested on Lake Annecy from the French Alps in 2012 where they faced an extradition hearing. After several months of house arrest, they were released in June 2013, by a French court that refused extradition back to the United States.
Mastro bankruptcy has been described as the largest personal bankruptcy in Washington state history. Prior to the bankruptcy, Mastros' transferred many of their assets, including a $ 15 million home in Medina, became Unclaimed Belief in Belize.
Video Michael Mastro
Biography
Michael Mastro has been in the real estate business since 1967. He has developed real estate projects worth at least $ 2 billion over 40 years, including commercial and home buildings. He was involved in hard money loans, mostly for desperate real estate developers, with the second or third act of trust on the project as collateral. His company, Michael R. Mastro Properties, is well known in and around Seattle, the location of most of its projects and properties. The company's development includes Vancouver's Town Plaza, originally called Tower Mall, Oasis water park (sold in 2001) in Palm Springs, Allison Park Apartments in Des Moines and Ballard Lofts in Seattle.
In 1974, Michael Mastro met with divorce Linda Ann Gale (born 1949) at Peoples Bank where they both worked, he as loan officer, he as a branch manager. They got married on June 3, 1989.
In 1989, Mastro sold the office building he developed with his partner to Boeing for $ 211 million. In the early 2000s, Mastro began buying raw land for housing construction.
Maps Michael Mastro
Bankruptcy
Mastro was forced into bankruptcy in July 2009, and filed for Chapter 7. On September 9, 2009, he recorded assets of more than $ 249 million and an obligation of more than $ 586 million in filings with the US Bankruptcy Court for the Western District of Washington..
In May 2010, a verdict was handed down by Bankruptcy Judge Samuel Steiner that two $ 1.4 million diamond rings were unavailable to creditors because they belonged to Linda Mastro.
In February 2011, Michael Mastro suffered a head injury while in Palm Desert. She was hospitalized for two weeks and underwent brain surgery.
In June 2011, a judge ordered Michael and Linda Mastro to hand over two of Mrs Mastro's diamond rings.
In May 2013, it was reported that bankruptcy bankruptcy, James Rigby, had filed a 82-page report judging all the jewelry confiscated from Mastros for $ 3 million.
Mastro bankruptcy is believed to be the largest personal bankruptcy in Washington state.
Bankruptcy and money laundering fraud
The couple disobeyed the judge's order to hand over the diamond ring and disappeared in June 2011. In August 2011, a sealed criminal complaint was filed against Michael Mastro and his wife Linda accusing them of bankruptcy fraud. After warrants for court humiliation (civil offenses) were issued for their arrest, they were arrested and detained in France on October 24, 2012.
On October 25, 2012, a day after being arrested in France, Mastro and his wife, Linda were charged by a federal jury on forty-three allegations of bankruptcy and money laundering. They are accused of hiding assets from creditors. They remain detained at Chambà © ry after a hearing held on November 7, 2012. A panel of three French judges rejected the couple's plea, based on their age and poor health, for parole. The court felt that the charges against them for bankruptcy and money laundering were serious enough to keep them in jail until the time of the US file to be extradited. Prior to their arrest, Mastro was pursued by the FBI and US marshals for sixteen months.
On November 15, 2012, the Seattle Times reported that the two diamond rings were in possession of French authorities. According to Thomas Terrier, French lawyer Masto, the rings were in the safety box at Annecy.
On December 12, 2012, the Seattle Times reported that Michael and Linda Mastro had been released from prison after being imprisoned for seven weeks. Three panel of judges decided that their health was suffering. They had to use electronic monitors and were free to walk around Annecy.
On December 12, 2012, the United States did not file an extradition, which, according to James Rigby, US-appointed bankruptcy guardianship, must be filed on December 26, 2012.
Extradition from France to USA
On February 23, 2013 the Seattle Times reported that the Court of Appeals in Chambery, France ruled that Mastros could not be extradited to the United States unless the American authorities guarantee that the couple will not face sanctions other than electronic surveillance. The extradition treaty between France and the United States allowed France to refuse extradition when the extradited party faces serious consequences related to health or age. Eighty-seven-year-old Michael Mastro and his wife have been wearing surveillance devices but are free to walk in Annecy, France after spending seven weeks in a French prison.
On 5 June 2013, La Cour d'Appel de Chambé © ry denied the extradition of Michael and Linda Mastro from France to the United States based this decision on the age of Michael Mastro (88), poor health, and daily dependence on his wife. The appeal was filed by the US Department of Justice. The United States requested that the case be brought to the French Supreme Court rejected by French prosecutors who found no reason to appeal. As a result, couples are no longer prevented from leaving their homes at night.
Mastros movement after financial problems appear
Before their bankruptcy, Mastros lived in a large seaside home in Medina, a city in the Seattle metropolitan area. They moved to California in 2010. In 2011 they embarked on a journey that began at Mr. Mastro's sister home in Seattle, continuing to Toronto, Ontario, Canada and according to Focus Ltd. investigators. ends at home EUR5,000 per month in Veyrier -du-Lac, France, on the east coast of Lake Annecy. Then they moved to Marceau, France where Mastros was captured in 2012.
Related bankruptcy of Tom Hazelrigg III
Tom Hazelrigg is a long-time business associate Michael Mastro forced bankruptcy by James Rigby and two other creditors in February 2012. On December 14, 2012, Judge Timothy Dore deny release Hazelrigg debt. Hazelrigg owes Mastro $ 76 million. In March 2015 he was sentenced to four and a half years in prison for tax evasion.
The controversy surrounding the sale of the house Mastro's Medina
In November 2012 judge Marc Barreca dismissed Jack Dorssers, a former business associate of Mastro, a share of the $ 8.36 million proceeds from the sale of Mastro's Medina, Washington home. The judge ruled that the assumption that Mastro had installed the house as collateral in 2009 for a $ 1.2 million loan was a hoax designed to keep the home away from the reach of other Mastro lenders. Jack Dorsser advocated Barreca's decision.
Appeal
On September 9, 2014, Rami Grunbaum of the Seattle Times wrote that a federal appeals court in San Francisco ruled that Linda Mastro was entitled to appeal against a bankruptcy court ruling on its assets.
See also
- Ira Einhorn # Extradition
- List of United States extradition treaties
References
Source of the article : Wikipedia
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