Flats at Wick developer claims he's been slandered - WFMJ.com News weather sports for Youngstown-Warren Ohio
Member Center:
The man who built YSU's first off-campus housing unit has filed a countersuit claiming the bank trying to foreclose on the loan for the project has slandered him.
Youngstown developer Dominic Marchionda included the countersuit in his answer to the foreclosure action filed by U.S. National Bank and Morgan Stanley Bank which claims Marchionda has defaulted on the remaining balance of the $5.5 million loan he took out to finance the Flats of Wick student housing project.
The bank claims that as of April 1, $5.2 million was still owed on the loan for the 112-bed complex that opened on Madison Avenue in 2010.
According to Marchionda's countersuit, he offered to pay off the loan using alternative financing but objected to the bank's claim that he owed an additional $440,000 fee.
Marchionda denies being behind on the loan, saying that while the official reason for the alleged default is his refusal to make payments electronically instead of allowing withdrawals from a company account, Marchionda claims that a bank official told him that the real issue is an indictment handed up against him.
The Flats at Wick development is just one of Marchionda's Youngstown projects cited in a 67-count Mahoning County Grand Jury indictment charging him with theft, receiving stolen property, falsification, record tampering, telecommunications fraud, money laundering, and engaging in a pattern of corrupt activity.
Marchionda has denied allegations that he improperly secured money from Youngtown's Waste Water Fund to aid the construction of the Flats as well as several other developments.
Alleging in the counterclaim that the bank is guilty of breach of contract, breach of duty of good faith and fair dealing, interference with business relations, abuse of process, as well as slander, Marchionda is asking to be awarded more than $25,000 in damages for each of those five counts.
The counterclaim asks that the court either allow him to continue making payments to the bank or let him refinance the loan without the additional $440,000 payment sought by the bank.
A Jewish civil rights group says anti-Semitic attacks in the U.S. remained near a record-high level last year, partially fueled by a sharp increase in physical assaults.
More >>A Jewish civil rights group says anti-Semitic attacks in the U.S. remained near a record-high level last year, partially fueled by a sharp increase in physical assaults.
More >>U.S. prosecutors have charged Trump critic and attorney Michael Avenatti with extortion and bank and wire fraud.
More >>U.S. prosecutors have charged Trump critic and attorney Michael Avenatti with extortion and bank and wire fraud.
More >>Russian President Vladimir Putin has signed bills imposing restrictions on online media and criminalizing anyone who insults the state.
More >>Russian President Vladimir Putin has signed bills imposing restrictions on online media and criminalizing anyone who insults the state.
More >>According to initial reports, the 911 caller said he heard eight gun shots near the 900 block of Front Street around 4:30 a.m.
More >>According to initial reports, the 911 caller said he heard eight gun shots near the 900 block of Front Street around 4:30 a.m.
More >>According to the National Safety Council (NSC), 2019 is the first time in four years that the estimated amount of Memorial Day Weekend deaths comes in below 400.
More >>According to the National Safety Council (NSC), 2019 is the first time in four years that the estimated amount of Memorial Day Weekend deaths comes in below 400.
More >>Greenville officers along with probation seized cocaine, LSD, marijuana and methamphetamine during the arrest.
More >>Greenville officers along with probation seized cocaine, LSD, marijuana and methamphetamine during the arrest.
More >>Police Departments in Austintown, Canfield, Farrell and Youngstown told 21 News that they will have extra patrols for the long weekend.
More >>Police Departments in Austintown, Canfield, Farrell and Youngstown told 21 News that they will have extra patrols for the long weekend.
More >>The event is scheduled to start at 8 a.m. near the Courthouse Square.
More >>The event is scheduled to start at 8 a.m. near the Courthouse Square.
More >>According to the National Safety Council (NSC), 2019 is the first time in four years that the estimated amount of Memorial Day Weekend deaths comes in below 400.
More >>According to the National Safety Council (NSC), 2019 is the first time in four years that the estimated amount of Memorial Day Weekend deaths comes in below 400.
More >>Ohio Gov. Mike DeWine has appointed the state's first-ever Americans With Disabilities Act coordinator to establish the state as a model employer of people with disabilities.
More >>Ohio Gov. Mike DeWine has appointed the state's first-ever Americans With Disabilities Act coordinator to establish the state as a model employer of people with disabilities.
More >>Summer is here and millions of Americans will enjoy the warm weather with a Memorial Day Vacation. AAA says this Memorial Day could see the second-most people on the road this holiday. INRIX. a global transportation analytics company and AAA predict that drivers will experience the greatest amount of congestion on Thursday, May 23 and Friday, May 24, in the late afternoon. The traffic will be a mix of people leaving work and holiday travelers. According ...
More >>Summer is here and millions of Americans will enjoy the warm weather with a Memorial Day Vacation. AAA says this Memorial Day could see the second-most people on the road this holiday. INRIX. a global transportation analytics company and AAA predict that drivers will experience the greatest amount of congestion on Thursday, May 23 and Friday, May 24, in the late afternoon. The traffic will be a mix of people leaving work and holiday travelers. According ...
More >>A woman will stand trial on allegations she beat her mother and shaved her head because she thought the older woman was listening to the Pittsburgh Steelers' game too loudly on the radio.
More >>A woman will stand trial on allegations she beat her mother and shaved her head because she thought the older woman was listening to the Pittsburgh Steelers' game too loudly on the radio.
More >>Police say 14-year-old boy has been killed in a shooting near an Ohio elementary school that also left a 14-year-old girl wounded.
More >>Police say 14-year-old boy has been killed in a shooting near an Ohio elementary school that also left a 14-year-old girl wounded.
More >>Authorities say a woman sprayed bear repellent inside a college building, sickening at least six people and forcing evacuations.
More >>Authorities say a woman sprayed bear repellent inside a college building, sickening at least six people and forcing evacuations.
More >>A longtime school board member who was censured over a racist Facebook post that was published on his personal page has lost his bid for re-election.
More >>A longtime school board member who was censured over a racist Facebook post that was published on his personal page has lost his bid for re-election.
More >>U.S. Energy Secretary Rick Perry has ordered his agency to release more than four years' worth of data from air monitors near an Ohio school where trace amounts of radioactive material were discovered.
More >>U.S. Energy Secretary Rick Perry has ordered his agency to release more than four years' worth of data from air monitors near an Ohio school where trace amounts of radioactive material were discovered.
More >>A look at the winners in key races in Pennsylvania's primary:
More >>A look at the winners in key races in Pennsylvania's primary:
More >>A proposed House bill would make it easier for Ohioans to seal low-level nonviolent and non-sexual offenses to help them move forward with their lives.
More >>A proposed House bill would make it easier for Ohioans to seal low-level nonviolent and non-sexual offenses to help them move forward with their lives.
More >> | 
All content © Copyright 2000 - 2019 WFMJ. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms |
