France: No Grounds to Appeal Denial of Mastro Extradition

Former Medina residents Michael and Linda Mastro won't be extradited to the United States to face dozens of charges related to bankruptcy fraud, after French authorities said that there are no grounds to appeal a court's decision not to send them back, the U.S. Attorney's Office said today.

However, the U.S. Attorney's Office said that the couple is not off the hook.

Michael and Linda Mastro "have a continuing obligation to return to the United States to resolve all civil and criminal matters," according to a press release from the U.S. Attorney's office.

The millions of dollars in assets seized from the Mastros in France, and currently in the custody of the FBI in the United States, are unaffected by the French Court’s ruling, according to a press release.

The French Court of Appeal of Chambery, near Lyon, France, ruled on June 5, 2013 that it would deny the extradition of Michael Mastro, 88, and his wife, Linda Mastro, 63, who face federal charges related to bankruptcy fraud. 

The couple is accused by federal prosecutors of hiding millions of dollars in assets from creditors in an off-shore trust in Belize, including their $15 million Medina home, after declaring bankruptcy.

A 2011 Forbes article outlines how Mastro and his wife once put together $2 billion in real estate investments, but were left in 2008 with debts of $100 million owed to family and friends who were investing with them.

After being forced into bankruptcy, Mastro said he had no assets even as he and his wife, Linda, continued a lavish lifestyle, spending thousands at a time shopping and dining internationally and living in their luxury homes, according to news reports, citing court papers.

The Mastros could not be located after they failed to follow a U.S. bankruptcy judge's 2011 ruling that they hand over two diamond rings worth $1.4 million as part of their settlement. Police arrested the couple in October near Lake Annecy in France and the couple denied that they were running from the law. 

According to authorities, the French court made its decision based on humanitarian grounds -- over the health and age of the couple. 

During the extradition proceedings, the French Court requested assurances that if extradited to the United States, the Mastros would serve no time in jail, according to the U.S. Attorney's office. According to the U.S. Attorney's Office, United States agreed that if convicted, prosecutors would recommend no more than two years in custody for either of the couple. Prosecutors further assured the French Court that if convicted, the Mastros would have access to medically appropriate care through the U.S. Bureau of Prisons, according to a press release from the U.S. Attorney's office.

But the French court decided that these assurances were insufficient, according to the U.S. Attorney's Office.