Federal investigators raid house owned by Frank Sinito, CEO of Cleveland-based Millennia Companies

Federal agents executed a search warrant Wednesday at the Waite Hill home of Frank Sinito, the CEO and founder of The Millennia Companies based in Cleveland.

According to the law firm Benesch Friedlander Coplan & Aronoff LLC, which represents Sinito, the raid was conducted by members of the U.S. Department of Housing and Urban Development and the U.S. Department of Agriculture.

"It is important to remember that an investigation is just that," stated a Benesch spokesperson in an email to 3News' Lynna Lai. "There have been no arrests and no charges filed."

The Millenia Companies owns hundreds of buildings and apartment complexes in several states, most notably the Key Center in downtown Cleveland.

"Millenia Housing Management and Mr. Sinito are cooperating with the investigation and have no further comment at this time," the Benesch spokesperson added.

Records show that in March of this year, HUD barred Sinito and Millenia Management from receiving new federal housing contracts for a period of five years following an investigation into improper conduct. The sanction was referred to as "debarment."

In a warning letter from HUD on Dec. 14, 2023, the agency accused Sinito of mismanaging tenant security deposits and taxpayer funds for housing assistance, as well as not properly maintaining properties. HUD cited nearly $4.9 million that was missing or improperly taken from 19 HUD-insured or HUD-subsidized properties.


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[barneysievers]

Never enough money for these greedy, sinful crooks.

[steve_anderson]

Once you heard "manages government properties" did you even need to hear more?!

[louispeddiltton]

This is why section 8 housing becomes corrupt. Its not those who need it, its those who make regular housing unaffordable so government needs you to need it. Put those corporation leaders in jail for this mismanagement and it will end.

[KMMGREY]

Rich stealing from poor tax payers...shocking! NOT! Take ALL his properties, see how he feels about that.

[jayf]

Banned for 5 years? How about for life. Jeez.

[patrickhall]

Didn't pay the politicians enough.

[kingmaafa]

My No 1 show about greed in 🇺🇸
American Greed 🇺🇸👏🏾

[pukaseek]

Jail him and take all his assets. I’m sick of this corruption.

[jenkor]

They claim the poor are the criminals, but this guy seriously stole more money than all the hud occupants combined. Probably firced several into stealing just to eat. I knew a HUD rep in Wichita a couple decades ago. She and her husband would buy hud houses super cheap, before they could go on the market, list each one in another family members name and rent them out. Absolute slumlords.🎉

[chariseh]

Don't feel good unless they're looking down at someone. My question is always "how much money is enough?"

[AbolishFamilyCourt]

The title alone is exactly why I left commercial real estate. While every investor and developer isn’t doing anything “in the dark” so to speak, there’s so many people being lied to, taken advantage of, and endless money being laundered to say the least. “The LOVE of money is the root of ALL evil.” … That’s why we have to constantly check ourselves before we wreck ourselves. But even then, there’s still grace as long as we’re breathing. Much love 💕

[Gus-xz]

We need to get public housing out of the hands of for-profit corporations !

Just like utilities.. there are certain resources that should be managed under the government or tightly controlled.

[franksullivan]

If he is skimming taxpayer money from HUD, he needs to go pay it back and go to jail.

[cheesehead]

0:15 Why tf is a real estate mogul managing government assisted housing?

[funwithFred]

It's about time they arrest him, and don't let him out. It is disgusting what he personified.

[justayoutuber]

The rich stealing from the very poorest

[tomnguyen]

Sorry mouthpiece for a CROOK! They just don't raid his house because they were looking to stay busy.

[yolandagailes]

Now, who is really living on government tax money. Frank living in a mansion eating steak and caviar. While tenants have no elevators or working HVac, eating po man spaghetti and mayo sandwiches. 😮

[tf]

The bad guys have been getting away with too much for too long.

[mineown]

If HUD felt it warranted banning them from HUD housing projects, why five years? Surely, if a ban was necessary, it should be permanent .
Five years isn't long enough for a company to change its ways, leopards don't change their spots.