French Court Declines to Extradite Michael and Linda Mastro

Medina residents Michael and Linda Mastro have been freed by a French court, which also ruled that it will not extradite the elderly couple to face dozens of criminal charges in the U.S. related to alleged bankruptcy fraud, the Seattle Times reported.

According to the Seattle Times, the ruling was made on humanitarian grounds.

Michael Mastro, an 88-year-old former real-estate magnate, and his wife Linda, are accused by federal prosecutors of hiding millions of dollars in assets from creditors in an off-shore trust in Belize, including their $15 million Medina home, after declaring bankruptcy.

The Mastros could not be located after they failed to follow a U.S. bankruptcy judge's 2011 ruling that they hand over two diamond rings worth $1.4 million as part of their settlement. Police arrested the couple in October near Lake Annecy in France and the couple denied that they were running from the law. 

According to news reports over the past few years, Michael Mastro owed millions of dollars to family and friends who had invested with him in real estate.

After being forced into bankruptcy, Mastro said he had no assets even as he and his wife, Linda, continued a lavish lifestyle, spending thousands at a time shopping and dining internationally and living in their luxury homes, according to news reports, citing court papers.

The hidden assets, according to federal prosecutors, included their home, diamond rings and a Rolls Royce automobile. Federal prosecutors also say they transfered money from their hidden bank accounts and paid for car loans for a 2006 Range Rover, a 2007 Bentley Continental, and a 2008 Rolls Royce Phantom Coupe; household expenses; legal expenses; department stores purchases; and a bulk gold coin purchase. 

The indictment includes a variety of bankruptcy fraud crimes and multiple counts of money laundering, according to federal prosecutors.

The Mastros' attorney Jim Frush told the Seattle Times that the elderly couple would be relieved to be able to leave their apartment in France after 6:30 p.m., a restriction placed on them while under house arrest in France.

Online
Seattle Times (registration/subscription required): Mastros are free to go, French court rules

Puget Sound Business Journal: French court rules Mastros cannot be extradited