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Federal agents searched the Ohio home of a prominent real estate developer who owns affordable housing properties and senior living centers across 26 states.
Agents with the Department of Housing and Urban Development and the Department of Agriculture descended Wednesday on the Cleveland-area home of Millennia Cos. owner Frank Sinito.
Millennia has at least four affordable housing properties in Indianapolis: Barrington Village at 1504 Renton St.; Emerson Place Apartments at 2110 Emerson Knoll Place; Hubbard Gardens at 4004 Meadows Drive; and Stonegate at 1226 N. Illinois St.
The raid comes months after HUD barred Millennia from receiving any new federal contracts with the department for five years. The move followed a HUD inspector general investigation that found $4.9 million in missing or misappropriated money from 19 Millennia properties that were insured or subsidized by HUD.
Sinito’s attorney, Marisa Darden, confirmed in a statement that federal agents were at Sinito’s home and said he and the company were cooperating with the investigation.
“It is important to remember that an investigation is just that,” Darden said. “There have been no arrests and no charges filed.”
A spokesperson for the U.S. Attorney’s Office declined to comment.
Millennia owns or operates roughly 280 apartment developments overall, along with several large office and apartment buildings in Cleveland. The company owns the 57-story Key Tower in Cleveland, the tallest building in Ohio.
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Hope it’s not just a political investigation. If it’s fraud and theft, then go for it!