http://www.smh.com.au/nsw/couples-farm-and-future-fell-prey-to-serial-fraudster-20110408-1d7q7.html He did do some good things for boxing when he had the'blaster' under his wings...
Search in:smh.com.au smh.com.auWeb. .Couple's farm and future fell prey to serial fraudster Kim Arlington April 9, 2011 .Ads by Google Free Practice Accountwww.GFT.com.au Want to learn more about cfds? We can help. Learn More ‘‘That was your security’’ ... Federico and Maria Vaccaro. Photo: Brendan Esposito The Vaccaros worked hard but a financier wants their property, writes Kim Arlington. THEY settled in Australia more than 50 years ago to build a good life for their family. Federico Vaccaro laboured at the steelworks in Port Kembla before tending a market garden with his wife, Maria. The Italian couple taught themselves English, bought a farm and raised four children. Now in their seventies, they worked hard and lived simply. Advertisement: Story continues below Alex Vella. Photo: Sahlan Hayes So how did they become entangled with Tony Caradonna - boxing promoter, convicted fraudster and one-time mate of the Rebels bikie club boss? The complicated story unfolded in the Supreme Court, where a finance company, Hillsan, is fighting for possession of the Vaccaros' property at Narellan Vale. The certificate of title for the house disappeared from the office of the couple's solicitor, Lorenzo Flammia, and in 2003 was fraudulently used to borrow $400,000 from Hillsan. Tony Caradonna. Photo: Adam Mclean The loan was secured by a mortgage over the property but the Vaccaros' signatures on it were forged and witnessed by an apparently fictitious solicitor. When the government acquired their farm at Badgerys Creek for Sydney's mooted second airport, the couple invested in the property as a way of securing their future, their daughter, Ivana Vaccaro, told the Herald. "You owned property and that was your security." Security at Mr Flammia's Penrith office is now under scrutiny. The Vaccaros are suing him for negligence, claiming he failed to keep their certificate of title safe. The couple had no idea it was missing until 2006, when Hillsan sought possession of their property following default on the loan repayments. Mr Flammia allegedly told them the title deed was stolen during a break-in. Hillsan argues it is entitled to take possession of the house, notwithstanding the fraud. Ruling on a preliminary issue last week, Justice Peter Hidden said it seemed to be accepted "that the perpetrator of this fraud was another client of Mr Flammia, Angelo Caradonna". Better known as Tony, Caradonna's frauds over the past decade have been detailed in the District, Supreme and Federal courts. His dealings with Mr Flammia, his cousin, also have attracted judicial attention. In 2008, his friend, Alex Vella, the president of the Rebels bikie club, alleged Caradonna had used forged documents to remortgage three of his properties - including the Rebels headquarters - for $2.4 million. They had been partners in a boxing venture involving Danny Green and Anthony Mundine. Justice Peter Young, who found Mr Vella was entitled to keep the properties, said the cousins were "close". Mr Flammia managed Caradonna's financial affairs and visited him when he was jailed for tax fraud in 2000. He inferred "that Mr Caradonna was a fraudster and probably Mr Flammia was too". The cousins are now bankrupt. Mr Flammia's practising certificate was suspended in 2006; Caradonna is serving a prison term for defrauding Mr Vella, among others. The court has yet to hear Hillsan's claim against the Vaccaros or theirs against Mr Flammia. Whether Mr Flammia acted dishonestly on this occasion has brought his insurer, LawCover, to court. LawCover does not indemnify policyholders in cases of fraud or dishonesty. In 2008, it argued unsuccessfully it should not be made a party to the Vaccaros' proceedings, pointing to the Vella case - and an earlier Federal Court judgment finding the cousins engaged in superannuation fraud - to show "a pattern of dishonest and fraudulent conduct between Mr Flammia and Mr Caradonna". As with the Vaccaros, Hillsan claims losses through Mr Flammia's negligence, not dishonesty.
When S.T is up there to fight L.S on your promotion, perhaps you can explain your opinion of Caradonna to him???
