Tuesday, May 28, 2024

Court approves oversight of new Crescent Beach owner accused in check-kiting scheme

The U.S. Court for the Western District of New York has approved a receivership to oversee the business finances of Katherine Mott-Formicola, who recently bought the Crescent Beach property in Greece and is now accused of fraud.

The local restaurateur is now being sued by Five Star Bank, which claims she is engaged in a fraudulent check-kiting scheme totaling nearly $19 million.

Mott-Formicola has said she plans to reopen the iconic Crescent Beach venue next month. She also owns Monroe’s Restaurant in Pittsford and The Wintergarden in Rochester.

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