Seattle developer with Clark County ties indicted
He was involved with failed project to build Walmart on Fourth Plain
Thursday, October 25, 2012
Seattle real estate magnate Michael Mastro and his wife, Linda, who were arrested this week in France, were indicted Thursday for allegedly transferring millions of dollars to offshore accounts to protect the money from creditors.
The 43-count indictment was announced Thursday by a federal grand jury in Seattle. Prosecutors allege the Mastros committed a variety of crimes related to bankruptcy fraud and committed acts of conspiracy from August 2008 to May 2009 as the real estate market plummeted.
Mastro is a developer who in 2009 was forced into one of the biggest bankruptcies in state history, with more than $570 million in liabilities.
He was involved in at least one Clark County project, the never-built Vancouver shopping-center project called Eastgate Plaza, planned with a Walmart store anchor south of Northeast Fourth Plain Boulevard between 137th and 147th avenues.