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04/02/19 6:00am
04/02/2019 6:00 AM

A Stamford, Conn.-based company that loaned Luminati Aerospace $10 million in 2016 is now taking the company to court, claiming it has defaulted on that loan. Hexcel Corporation is asking the courts to seize property belonging to Luminati at the Enterprise Park at Calverton in order to turn it over to them, and they are also asking that the due date on the loan be accelerated so it is due immediately.  READ

Featured Story
03/31/18 5:58am
03/31/2018 5:58 AM

Riverhead’s current Town Board inherited a reckless giveaway of what’s left of EPCAL for a fraction of fair value to serial fraudster Daniel Preston and his start-up Luminati. After the property was tied up without a penny of consideration for almost a year, the board then, in effect, allowed Mr. Preston to assign his letter of intent to various permutations of entities allegedly controlled by the Ghermezian family. Mr. Preston’s involvement was sufficiently suspect that Supervisor Laura Jens-Smith and her running mates during last year’s campaign called for an independent investigation into prior dealings between then-Supervisor Sean Walter and Luminati. READ

Featured Story
03/08/18 8:10am
03/08/2018 8:10 AM

Triple Five Group chairman Nader Ghermezian told an audience of about 25 people at the Riverhead Chamber of Commerce meeting Wednesday night that he owns more than 100 companies, including some industrial and aviation companies that could open new facilities at the Enterprise Park at Calverton if Riverhead Town accepts their proposal. READ

Featured Story
02/28/18 7:27am
02/28/2018 7:27 AM

While Luminati Aerospace founder Daniel Preston was a no-show at Tuesday’s qualified and eligible sponsor hearing on Calverton Aviation and Technology’s $40 million offer to buy more than 1,600 acres of land from Riverhead Town at the Enterprise Park at Calverton, seemingly everyone else was there.  READ

02/27/18 7:07pm
02/27/2018 7:07 PM

UPDATE: The hearing ended shortly before 11 p.m. and was adjourned to March 13.

Original Story:
The long awaited qualified and eligible sponsor hearing on the potential $40 million sale of town land at Enterprise Park at Calverton has arrived. READ

02/16/18 10:29am
02/16/2018 10:29 AM

UPDATE (Tuesday, 10:40 a.m.): Supervisor Laura Jens-Smith said Friday afternoon Luminati’s insurance on the runway agreement is in fact in place. The current yearly policy took effect on Sept.  21, 2017 and runs through Sept. 21, 2018, she said. READ