Assets Frozen
The Boston Globe reported that a federal bankruptcy judge has frozen the assets of a trust benefiting the children of Antonio Giordano, a Rhode Island nursing home executive jailed for conspiracy and embezzlement. Bankruptcy trustee Charles Pisaturo Jr. argued that the assets should be turned over to Giordano's bankruptcy estate because he was the beneficial owner at the time he filed for Chapter 7 bankruptcy protection. Giordano filed for bankruptcy on Oct. 13, claiming he cannot pay nearly $800,000 he owes to the Internal Revenue Service after admitting in 2006 to taking money from three nursing homes as they defaulted on federally backed mortgages or operated in the red.
