Sergio Martinucci franchises with Weichert, piles up more lawsuits

by Joe Zekas on 8/2/11

Sergio Martinucci is back in the news with the announcement of a new franchise affiliation.

We quote from a recent article at Chicago Agent Magazine‘s Web site:

The announcement came five months after Sudler International Realty became an independent agency, according to a press release.

“The move to Weichert is the result of some investigation, during which I learned, among other things, that Weichert, Realtors had a very profitable year,” Martinucci said. “The last several years have been challenging for our company,” he added. “The Weichert name and image will do us a world of good.”

The sole comment on the article was from “Ripped Off” who asked: “Will Mr. Martinucci be making good on the hundreds of thousands of dollars he stole from agents, buyers and sellers?”

Mr. Martinucci’s franchise with Sotheby’s was terminated earlier this year. He had previously held franchises with Century 21 and Coldwell Banker.

Martinucci’s company, once one of Chicago’s most respected and storied brands, imploded recently amid a spate of lawsuits and mutterings by former agents about being stiffed for large sums. Three additional lawsuits naming Martinucci as a defendant, most recently a foreclosure against a commercial condominium at 1255 N State Parkway, have been filed within the past month.

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