Monday, September 1, 2008

Real Estate Brothers' Fortunes Have Seen Better Days


MONTREAL - They once held their heads high as prominent Montreal real estate developers, but now the small empire the Magi brothers built is mired in financial chaos and problems that generated a recent attempt on the life of one of them and the possible extradition of the other.

In 1999, Antonio (Tony) Magi, 48, was at the pinnacle of his career as the public face behind the launch of one of the most ambitious residential real estate development projects Montreal had witnessed in years. Meanwhile, his business partner and younger brother, Alberino (Rino) Magi, 40, oversaw several major residential development projects through their company Gescor Construction.

Until Thursday, the older brother had been clinging to life. In August, he was shot several times in what police believe was part of an underworld settling of accounts.

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