Sleazy treasurer left Westchester Trump Tower a financial mess: suit (NY)
The other Trump Tower — in White Plains — is in financial trouble after the condominium discovered its longtime treasurer had been allegedly stealing cash for years, according to a lawsuit filing. Frank Palazzolo, a real estate investor who was named one of the city’s 10 worst landlords by a former city housing commissioner, used the condo’s funds as his own personal “piggy bank” and covered his tracks with fake account statements, according to a suit brought by the condo board on Monday. The alleged theft, which the condo estimates at $1.3 million, has left the Westchester Trump Tower “in a precarious financial position — unable to pay for basic services and exposed to significant litigation risk,” said the Manhattan federal court filing. Read the article……………
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