SEATTLE - A French court ruled Seattle real-estate magnate Michael R. Mastro and his wife, Linda, will not be extradited to the U.S. unless American authorities agree that the couple will not be jailed, the Seattle Times reported.
The couple was indicted in Seattle on 43 counts of money laundering and bankruptcy fraud.
Michael Mastro was a developer and money lender who oversaw commercial and residential projects worth an estimated $2 billion over a 40-year career. But the market's crash left him short, and three banks forced him into bankruptcy in 2009. He owes more than $200 million to creditors, who are expected to receive just pennies on the dollar.
The couple is accused of concealing one of their bank accounts from creditors and using $285,000 from the account for personal expenses — including payments on their Bentley and Rolls Royce automobiles, credit card bills, and the purchase of $100,000 in gold.
The couple disappeared after a judge ordered them to turn over two of Linda Mastro's rings worth an estimated total of $1.4 million.
The rings were recovered when the Mastros were arrested last October in France.