Bellmarc Group Partners Sue Co-Founder, Claiming Embezzlement

Aug. 27, 2014 — Anthony DeGrotta and Larry Friedman, co-founders with Neil Binder of what is now the Coldwell Banker Bellmarc Group real-estate conglomerate, filed a lawsuit in New York County Supreme Court on Aug. 26, alleging Binder "embezzled many hundreds of thousands of dollars” and made such unusual demands of employees as hiring a man only under the condition "that the man shall commence taking Adderall," a common medication to combat attention-deficit disorder, even though the man was not diagnosed with that condition. The New York Daily News said the partners claim Binder illegally withdrew company funds for private use, including from an escrow account used to fund employees’ health-insurance premiums, and gave his wife a no-show job. They seek $2 million in damages, and a court order barring Binder from the firm. Binder did not respond to the newspaper's requests for comment.