Bronx Man Sues Friend for $50M Racketeering Scam
New York City News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
A Bronx man, James McManus, accuses his childhood friend, John Lettera, of running a racketeering scam through a fake asset management company, Fairbridge Asset Management. McManus claims Lettera defrauded him out of millions in loans for properties in the Bronx and Connecticut, leading to heart issues and hospital visits. At least three others have reported similar scams by Fairbridge, potentially exposing major players like Oaktree and Churchill Asset Management to big losses. The lawsuit demands $50 million for lost money, distress, and more, with potential for a class action and halting the operation.
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