Suffolk County District Attorney Raymond A. Tierney today announced that Marco Materassi, 58, of Dania Beach, Fla., the former principal attorney at Materassi Legal, P.C., based in Great Neck, was indicted for Grand Larceny in the Third Degree, for allegedly stealing $30,000 that was being held in his escrow account as part of a real estate transaction over a five-day span in 2024.
“Our legal system is premised on attorneys acting ethically and honestly in their work,” said District Attorney Tierney. “My office will continue to investigate, prosecute, and hold accountable attorneys who violate their oath and act to unlawfully enrich themselves.”
According to the investigation, it is alleged that Materassi was hired in 2024 to represent the seller in a real estate transaction. On January 26, 2024, a contract was entered into for the sale of a home, in which the buyer was required to make a $30,000 down payment. Both parties agreed that the down payment would be kept in Materassi’s trust account until the closing date, at which time the down payment was to be received by the seller. Prior to the closing, an issue arose, and the buyer and seller agreed to terminate the contract. The buyer was to receive his refunded down payment deposit of $30,000 from Materassi. When the parties to the real estate transaction attempted to obtain the money, they contacted Materassi.
Materassi allegedly did not respond to any of the parties and failed to return the funds. An analysis of Materassi’s bank account revealed that he allegedly spent the money on personal expenses and other expenses related to his firm and unrelated to the transaction.
On June 20, 2025, Matterassi was arraigned on the indictment before Supreme Court Justice John B. Collins, for Grand Larceny in the Third Degree, a Class D felony. Justice Collins ordered Matterassi released from jail without bail because his charge is considered non-bail eligible under current New York State law, meaning prosecutors cannot ask for, and judges cannot set bail.
Matterasi is due back in court on August 1, 2025, and faces 2 1/3 to 7 years in prison if convicted on the top count. He is being represented by Christopher Gioe, Esq.
If you believe you have been victimized by Materassi, please call the Suffolk County District Attorney’s Office at (631) 853-4626.
This case is being prosecuted by Assistant District Attorney Tara K. O’Donnell of the Public Corruption Bureau, and the investigation was conducted by Detective Thomas Monaco of the Suffolk County Police Department’s Financial Crimes Unit.
Criminal complaints and indictments are merely accusatory instruments. Defendants are presumed innocent until proven guilty. No one is above the law.
