By Matt Artz
Friday, July 1st, 2011 at 11:18 am in Uncategorized.
Fremont Bank has filed a lawsuit seeking to foreclose on the Livermore winery where Nardolillo has been living for more than a decade.
In a case of terrible timing, Nardolillo and his winery partners took out a $352,730 loan in August, 2008, right before the crash.
And it was a short-term loan that they had to pay back by last September. They didn’t come close. They still owe more than $310,000 plus interest, which is why Fremont Bank filed suit in April.
The bank wants Nardolillo off the property, access to all the books as well as all of the proceeds from the land. It also wants the property sold so it can get its money back, which I’m guessing would pretty much spell the end of White Crane Winery.
Nardolillo has other problems. The DA’s office is still investigating whether he lied about being a Fremont resident to keep his elected post at Ohlone College.
If you recall, we wrote earlier this year about Nardolillo living in Livermore, while he remained registered to vote in Fremont, most recently at a friend’s home where his rent amounted to $400 a month in free wine.