Mayor of Elm Street indicted
A federal grand jury indicted former Greensboro nightclub owner Joey Medaloni on six counts, including allegedly falsifying tax information to obtain a loan. Following the indictment was the issuance of an arrest warrant.
On or around Aug. 2, 2005, according to the indictment, Medaloni presented tax information to Truliant Federal Credit Union in order to obtain a loan for $996,000 for himself and Entourage LLC.
Entourage was formed in September 2005 in North Carolina, lising Medaloni’s home address as the office and Medaloni as sole agent and manager.
The indictment states, “[I]n truth and fact, as Joey Angelo Medaloni then well knew, these returns… had been prepared at the direction of Joey Angelo Medaloni specifically for the purposes of inducing Truliant Federal Credit Union to issue a loan….”
The papers filed with Truliant “substantially overstated” the income of Medaloni and his companies Lafamiglia Inc and Medaloni Inc.
The other five counts apply to transactions made with the $996,000 loan, about $200,000 of which had been deposited in Bank of America Entourage LLC received a notice for grounds of immediate dissolution from the NC Secretary of State in March 2010 for delinquency of three annual reports.
Medaloni was known informally as the “mayor of Elm Street” after pioneering downtown nightlife with a series of clubs, which he sold in 2007. Much, with its rooftop bar Heaven, and the Red Room still operate in downtown Greensboro.’
Sunshine and gloom on the campaign trail
The Democratic and Republican candidates for NC Senate District 27, which covers much of
Greensboro, politely skirmished over the prospects for the state economy during a forum at Mahi’s Seafood Restaurant on Monday night.
Brandishing a copy of the daily newspaper, Democrat Don Vaughan said, “I’m going to bring you fairly decent news right now. Now things have been bad, but by golly, if you saw Saturday’s paper, you know they’re starting to get better. And the headline here says, ‘North Carolina helping to lead nation to recovery.’ Things are starting to happen because of some things we did in the North Carolina Senate are helping to make this recovery.”
A freshman senator, Vaughan is defending his seat against Republican Jeff Hyde, a tea party favorite and founder of Conservatives for Guilford County.
“Senator Vaughan just held up a newspaper article; it said, ‘North Carolina leads the nation out of recovery,’” Hyde said in response. “You know, those same newspaper sources said that we’ve been out of our recession since June of 2009, but we’ve heard speaker after speaker tonight talk about the anxiety that they have about the future of our schools, about prosperity in North Carolina, about the 19 months of double-digit unemployment.”
Hyde argued that if North Carolina scales back the size of its government based on the principles of the federal and state constitutions, its people will enjoy prosperity again. — JG
A race with implications for the state power balance
Occasionally, reporting from newspapers in other parts of the state illuminates affairs in the Piedmont Triad. Such is the case with a Sept. 30 story in Lumina News, based in Wrightsville Beach. The impending retirement of Democrat Julia Boseman from the NC Senate leaves a vacancy in the District 9 seat. That the seat is open and that its been held by both Democratic and Republican lawmakers in the past decade make this a competitive race between Democrat Jim Leutze, a former chancellor of UNC Wilmington, and Republican Thom Goolsby, a Wilmington lawyer.
The most revealing quote belongs to Leutze:
“We have a university here that we want funded. We have a community college here that we want funded. We have port here that we want improved and the river dredged. We want better highways around Wilmington to deal with our traffic congestion… we have the film industry that we want to have some subsidies and incentives for…. Political power in the state can move from this coastal region to the Piedmont in a heartbeat.”