Reputed Genovese capo Carlo Mastrototaro who allegedly has controlled the crime family's Worcester, MA operations for the last fifty years claims that he was stiffed by Marlboro-based lender LBM Financial LLC.

LBM Financial "offers short-term, high-interest loans — known in the industry as 'hard money' loans — to developers in the early stages of construction projects," and is a defendant in a dozen or so state and federal lawsuits in which borrowers allege the company "used 'loan-to-own' tactics designed to financially sabotage construction projects in order to take them over through foreclosure or, failing that, to use the delays created to run up the payoff amount on the loan by piling on fees, penalties and default interest rates."

According to Mastrototaro he introduced Commerce Bank & Trust chairman David G. "Duddie" Massad to LBM Financial president Marcello M. Mallegni in 2000, and the well-heeled Massad subsequently became an investor in the lending firm.  In exchange for facilitating the introduction between Massad and Mallegni, LBM Financial allegedly agreed to pay Mastrototaro a fee of one percent on each loan it made; however, Mastrototaro contends that LBM Financial has breached the agreement.

THE TRUTH ON DUDDIE:
A collection of information compiled to inform the public about David G. Massad and his associated companies and the way they do business here in the Commonwealth and beyond.

If you have done business with Mr. Massad or any of his companies and feel you have been taken advantage of and your are not sure what to do about it, take a look at what others have done. 

If you believe in whats right and are in the pursuit of justice for all, then unite together with  the un-silent majority of people and business' that have decided "enough is enough" and speak up, to shut down bad business.