Illegal Real Estate Finance Scheme Lands Man in Prison

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Commercial Real Estate Finance Scheme

Over the course of several years, John DiMenna engaged in the purchase and development of large commercial real estate projects. The finance scheme included the financing of hotels and large scale multi-tenant properties. DiMenna and his business partners organized themselves by operating via multiple corporate entities. In doing so, DiMenna raised ten of millions of dollars in capital for his real estate projects, primarily by selling equity membership  to limited partners.

In addition, DiMenna involved numerous financial institutions for the purchase, renovation or construction of his commercial real estate projects. DiMenna was sufficiently sophisticated in that he managed each project, to include each entity’s profitability, cash flow, and operating requirements.

No Longer a Thin Grey Line

Upon realization that some of his properties were in financial trouble, DiMenna embarked upon an illegal financial restructuring. Specifically, DiMenna diverted funds from stand-alone cash flow positive projects to support capital improvements, construction, and operating expenditures in his cash flow starved projects. In doing so, DiMenna reallocated funds from the cash flow positive projects such that he could continue to make the required interest and preferred returns to his investors.

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Peter Moreno
From the concrete jungle of Wall Street as an Investment Adviser to the narco-infested jungles of Colombia, as a U.S. Marine Corps Lieutenant Colonel. His first hand knowledge of both finance and crime present a unique perspective on the topic of financial crimes. Although he may not be the "most interesting man alive," his friends assure him he's in the top 10. He delivers provocative written insights on controversial topics, sips single malt scotch with a smile, and fancies a good cigar.