David Silipigno's House

David Silipigno's House


Saratoga Springs, New York (NY), US
David Silipigno is a controversial entrepreneur. He founded National Finance Corp., a once-massive subprime home-lender that collapsed in 1999. After the collapse, Bear Stearns claimed Silipigno had stolen at least $6 million in loans, leading the FBI to investigate Silipigno's business.

In 2003, Silipigno plead guilty to federal felony charges and paid $5.6 million in restitution in order to avoid a 10-year prison sentence. He then founded First Guarantee Mortgage, another subprime lender.

First Guarantee folded in 2008. Silipigno then created ShopWurld, an online shopping enterprise. Shopwurld's offices were raided by the FBI in 2009, with agents confiscating two truckloads of computers, documents, and filing cabinets, apparently in a quest for information about Silipigno's past and present companies. Shopwurld shut down months later.

Silipigno owns this 15,000 sq. foot home.
David Silipigno is a controversial entrepreneur. He founded National Finance Corp., a once-massive subprime home-lender that collapsed in 1999. After the collapse, Bear Stearns claimed Silipigno had stolen at least $6 million in loans, leading the FBI to investigate Silipigno's business.

In 2003, Silipigno plead guilty to federal felony charges and paid $5.6 million in restitution in order to avoid a 10-year prison sentence. He then founded First Guarantee Mortgage, another subprime lender.

First Guarantee folded in 2008. Silipigno then created ShopWurld, an online shopping enterprise. Shopwurld's offices were raided by the FBI in 2009, with agents confiscating two truckloads of computers, documents, and filing cabinets, apparently in a quest for information about Silipigno's past and present companies. Shopwurld shut down months later.

Silipigno owns this 15,000 sq. foot home.
View in Google Earth Homes - Celebrity - Business
Links: www.forbes.com
By: gordonhigh

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