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The state auditor has asked for the sum of 7.87 million in possible findings to collect from developer Dominic Marchionda and others. Most of the money will go to Wick Towers located in downtown Youngstown due to the default of two loans from the state for the building’s construction.
Youngstown, Ohio – The state auditor is likely to request the sum of 7.87 million in collections findings by Developer Dominic Marchionda, several of his businesses and his wife, business partners and previous CFO for Youngstown David Bozanich for alleged misuse of city funds and non-payment of loans from the government. On three projects.
Marchionda, along with the other members, are among those who recently received “notice of findings proposed” correspondence to Tiffany L. Ridenbaugh, chief forensic auditor for the special investigation unit of the state auditor’s unit.
They were addressed to city officials in various cities.
Copies of the secret correspondence were obtained from The Vindicator.
Allison Dumski, spokesperson for the auditors, stated: “Our policy is not to discuss any work that is in progress until it’s completed.
These letters remain to be drafts until the audit is completed and a report released The state has plans to seek Marchionda as well as other individuals for information, which includes James Pantelidis, co-founder, $7,866,389. as director for Pan Brothers Associates, its New York-based partners. For projects that have also been the focus of criminal investigation.
These are The Flats at Wick studenthousing complex, as along with Wick Towers and Erie Terminal Place Both of them are housing developments in downtown.
Marchionda stated: “I am receiving it and I am not happy with the conclusions nor the reasoning behind them. It is in need of re-examination. “
David Rizzuto, Managing Director of Pan Brothers, said: “We have received the letter that we don’t believe the conclusions are valid and the reasons behind them and we are currently working to come up with a swift response.
Rizzuto said, “We don’t think we have a debt to this amount.”
If asked for a comment, Bozanich said, “Leave me to myself” and left the phone on the reporter.
Bozanich has been released from the state prison on the 25th of July after serving around 11 months of four convictions, which included one specifically related to potential state audit findings.
City officials acknowledged that they received letters, but they declined to discuss or reveal the contents of the letters, as they aren’t public documents as per California’s Open Records Act.
The most significant recovery possibility is $ 6,576,378 in the case of Marchionda, Wick Properties LLC and Pantelidis in which both are managing members – in connection with an energy-related loan that was not paid by the OhioDevelopment ServicesAgency of September 25, 2013, to assist in financing Wick Towers. Wick Towers. .
A case of the aggravated theft of Wick Properties, LLC dropped on the 7th of August in 2020 in a plea agreement in connection with the loan of $500,400 to make it easier for its repayment.
In her letter to Marchionda she stated that $6,576,378 would be due to the loan – and that it was increasing because of fees for collection and interest on July 9.
This loan, along with the ODSA loan to Wick which had an undisbursed balance of 161,326 at the time of the 9th July along with another ODSA loan to Erie Terminal Place with an unpaid balance of 294,077 in the same month, at the time of July 9, were handed over to the attorney of the state. General “as bad debt to collect.” These loans had been in default due to technical reasons, as the appropriate documentation was not supplied the DSA, “according to Ridenbaugh’s letter.
Additionally the brownfield loan contracts were revoked because of the indictment of Marchionda and his subsequent convictions in the letter to the developer noted.
The loan was initially approved by Marchionda and Pantelidis as managing members of WickPropertiesLLC and guaranteed by Youngstown Acquisition Holdings LLC and Legal Arts Properties LLC, as well as the two men being managing partner.
“We are working hard to pay back the loans,” Rizzuto said.
Marchionda added, “We are working on refinancing brownfield loans. We are working hard to secure refinancing.
The Erie Terminal Place loan was initially for $ 800,000 and was signed by US Campus Suites LLC with Marchionda and his wife, Jacqueline, as managing and guarantor members for the loan on the 21st of September, 2011. It was made secured through mortgages owned through Erie Terminal. Place LLC, US Campus Suites LLC, DJD & C Development Inc. and DJM Rental Properties LLC, with Dominic Marchionda as president and an authorized member of each of the companies.
The Marchiondas and the entire companies were identified as having the verdict against them.
The proposed conclusions also contain an opportunistic scheme that led Bozanich to be found guilty on charges of creating false documents. He was also found guilty on the 7th of August in 2020 of a felony of corruption as well as two counts of illegally compensating an official in the public sector.
The conviction for forgery was based on the transfer to the tune of 1.2 million of the water fund for municipal use to the Marchionda on the 19th of November 2009, in the event that Marchionda returned one million dollars to the general fund of the city to purchase the building of the Madison Avenue fire station. This illegal transaction helped Bozanich to replenish the general fund of the city that year.
“The remaining $200,000 was held by the developer due to its involvement with the money-laundering programme,” Ridenbaugh wrote.
A charge brought against Marchionda in relation to the issue of the fire station was dropped after the defendant pleaded guilty, on the 7th of August, 2020 in connection with four count of falsifying documents after admitting to using fake bills to withdraw money from town to pay for Erie terminal project. Erie terminal project to pay off bills that he was owed for his properties in Wick.
The city then purchased the fire station for one million dollars – and then leased it to the Marchionda firm until it closed in December 2019 after which the lease was due to expire. Ridenbaugh’s letter reveals that the station was valued at 411,388 dollars in the year of its purchase.
The proposed closing that would see the company pay $ 411,388 to the city’s the fire fund through Marchionda, Bozanich and US Campus Suites and two men as well as the company must also contribute $3,220 to the business funding fund that the city has to cover the closing expenses of the sale of the station.
Additionally, the $200,000 difference between the 1.2 million – with half coming from water and the remaining half from sewage, and the $1 million to fund the fire hall could be the potential for a payback. in opposition to Marchionda, Bozanich and US Campus Suites with the sum of $ 100,000 due to each of these municipal funds. .
The property of the fire station was used to secure the brownfield loan needed for Erie terminal. Erie terminal, as per the state auditor’s documents.
Another possible discovery is an award of $220,000 to be received by Marchionda along with Erie Terminal received from the city as additional funds for wastewater and water on the 3rd of January 2013, for improvement.
Ridenbaugh’s letter states that Marchionda forgeries documents within the city and claimed additional $600,000 in costs when only $ 248,941 was required. It has been agreed by the city to offer grants for a part of these alleged additional expenses.
“Based upon the facts that fraudulent supporting documents were submitted and that the city was expecting the developer to pay for the first $380,000 of additional expenses, a collections notice is issued for $220,000. This is a city-issued notice to convert public funds or stolen by “Marchionda. The lawsuit also targets Erie Terminal Place LLC.
Discussions on a plea bargain together with lawyer Stephen Garea, who was to be a crucial prosecution witness in the case of Marchionda Bozanich and Marchionda, as well as state prosecutors are currently in process.
At a preliminary hearing held in Jan. 2020 Garea claimed he approached Philip Beshara, former president of B&B Contractors and Developers Inc. He was asked to talk to Bozanich to assist Marchionda obtain municipal funds to fund The Flats at Wick project. . Beshara was able to prove that he sent Bozanich the sum of $20,000 in an envelope during early 2009 in the beginning of spring. There is no evidence on this.
But Garea claimed that he had waived approximately $10,000 in legal costs and also said Bozanich had a debt to him from a dispute over a neighborhood with his ex-wife, and Bozanich had not yet billed for it. Ex-CFO, because he hoped Marchionda to make use of the $200,000 from the deal for the fire station to pay. the costs due to it through the promotion.
One of Bozanich’s fraudulent compensation convictions was related to his failure to pay legal costs.
Garea also claimed in January of 2020 that he had been involved in generating fake invoices using Marchionda to finance for the town’s Erie terminal.
On July 17, 2017, police took $ 66,700 from Garea’s residence in the course of a search. Garea claimed in January of 2020 that the bulk of the cash was from the money he’d saved up and some of it resulted from golf tournaments and was not derived in a way that was illegally.
In this testimonies Garea claimed that about $55,000 was given back to him.
Garea has been the most recent individual to be scrutinized in connection with the corruption investigation of the mayor which has led to the convictions of Bozanich and Marchionda, the the former Mayor Charles Sammarone and Raymond Briya who was the former CFO from MS Consultants Inc ..
Bozanich was the only person who served an indefinite prison sentence.
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