Vito Simone, the prominent realtor and property investor and President of the Greater Baltimore Board of Realtors, filed a chapter 7 bankruptcy petition with his wife, Gail.
The couple claim assets of $468,900 and debts of more than $3.5 million.
The petition, dated Feb. 18, has not previously been reported.
Reached at home on his
cell phone, Simone
is reluctant to talk about his
"I'm not sure that we can talk about it for a story yet," he
says, before blaming business partners—particularly those in his
construction companies—for his
"A lot of those people let me down terribly,' Simone
"It affected me in devastating ways.
It affected my family in devastating ways."
An associate broker with Yerman
, Witman, Gaines and Conklin Realty, Simone
has been quoted often in the media as an expert on real estate, especially "buyers agency," when a realtor works for a prospective home buyer.
has been active in selling and rehabbing homes throughout the city, particularly in Reservoir Hill.
sat on the "Flipping and Predatory Lending Task Force" empaneled by Sens.
wife own Simone Real Estate, LLC; Tenant Buyer Homes, LLC; VGS Properties, LLC; Simone Construction, Inc.; and a 50 percent interest in each of Baltimore Rehab Services, LLC and Druid Lake Partners, LLC.
"Most of my issues were centered around a partnership that didn't work out," says Simone
, who last declared bankruptcy in 1988.
blames "partners that didn't do what they should out in the field," adding that "because I'm the visible person I guess I got left holding the bag."
Simone has been on Greater Baltimore Board of Realtors (GBBR) board since 2003 and served as the organization's treasurer in 2005.
According to the bankruptcy filing, Simone
owes the GBBR Credit Union