Star Ledger: Faiella seeks to settle his bankruptcy debt

Faiella seeks to settle his bankruptcy debt
Details on how former Newark Deputy Mayor Alfred Faiella is attempting to settle massive debts to creditors — the whole thing just reeks. In addition to the bankruptcy cases Faiella faces, he may also receive a summons from the city itself:

Newark city officials are exploring a possible lawsuit against Faiella to recover publicly funded assets he kept under his control after leaving City Hall in 2001, including two lucrative downtown parking garages, a South Ward warehouse and millions of dollars in cash.

“We have not yet made a determination if and how we will proceed,” said Desiree Peterkin Bell, spokeswoman for Mayor Cory Booker.

But Booker said this shortly be fore taking office two years ago: “There is no rationale for our city to have allowed itself to lose millions of dollars in assets. It is a flat abuse of the public trust.”

Author: Ken Walker

Husband, Father, Newarker, PCA Elder, Business Analyst. In a glass case of emotion since 1978.

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