Police raid major Youngstown developer’s home, business

Police searched the home and business of Dominic Marchionda, CEO of NYO Property Group

Police and Mahoning County Sheriff's deputies are at the house of Dominic Marchionda, the CEO of NYO Property Group.
Police and Mahoning County Sheriff's deputies raided the home of Dominic Marchionda, the CEO of NYO Property Group, in March.

POLAND, Ohio (WKBN) – Police and Mahoning County Sheriff’s deputies raided the house of Dominic Marchionda, the CEO of NYO Property Group.

Investigators also searched NYO Property Group’s office in the First National Bank building in downtown Youngstown. They collected several boxes of financial records. Investigators were at Marchionda’s Poland home on Via Atillio at the same time, acting on a search warrant.

It is unknown at this time what police are looking for in Thursday’s raid, but the Ohio Attorney General and Auditor of State confirmed that they are assisting in the investigation.

Mahoning County Sheriff Jerry Greene said he couldn’t comment on the investigation, and a spokesperson with the Auditor of State couldn’t confirm her agency was leading the investigation, even though Greene said they were.

Youngstown Mayor John McNally said the Attorney General’s Office and Auditor’s Office said previously they were looking into records of transactions between the city and NYO Property Group prior to 2014.

“They were investigating at least one property transaction from before 2014 to ensure that all city monies that might have been involved in the transaction were spent properly,” McNally said.

In 2015, the state tried to obtain records from NYO as part of a routine audit of the city’s books, but attorneys for the company initially went to court and stopped the inquiry.

McNally said the city provided a number of financial aid packages to NYO over the last ten years to help develop properties in the city, and most of those loans have been repaid in full.

NYO owns several buildings in downtown Youngstown, including Erie Terminal Place, the Flats at Wick and Realty Tower. The property group is also working to renovate the historic Stambaugh Building to turn it into a hotel.

“From what I can tell, I don’t have cause for concern from the city’s perspective,” McNally said.

Marchionda has not commented on the investigation.

If you are viewing this story on the WKBN app, click to view Amanda Smith’s Facebook Live video from the scene.


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