The CEO of one among America’s largest mortgage firms has been labelled a terrifying bully who ran a ‘sex-driven’ workplace – regardless of brazenly purporting the significance of ‘wellness.’
Victor Ciardelli, President and CEO of Assured Price, is accused of berating, cursing at and demeaning workers whereas operating a office that allowed males to leer at feminine colleagues.
Practically 80 former staff reported persistent verbal abuse and accused the 57-year-old entrepreneur of selling a misogynistic ambiance on the agency.
An expose by the Chicago Tribune analyzed a wide selection of paperwork, together with courtroom information, inner firm emails, written exit interviews, and textual content messages.
‘Each person who works immediately beneath Mr. Ciardelli is petrified of his potential anger outbursts,’ one former worker wrote to the HR division of Assured Price, the seventh largest residential mortgage firm in the US.
Victor Ciardelli, President and CEO of Assured Price, is accused of berating, cursing at and demeaning workers whereas operating a office that allowed males to leer at feminine colleagues
Practically 80 former staff reported persistent verbal abuse and accused the 57-year-old entrepreneur of selling a misogynistic ambiance on the agency (Christa Allen, Victor Ciardelli and Rose Thorn attend birthday dinner for Cuba Gooding Jr. hosted by 50 Cent)
An expose by the Chicago Tribune analyzed a wide selection of paperwork, together with courtroom information, inner firm emails, written exit interviews, and textual content messages
Assured Price vehemently denies the allegations, claiming the Tribune investigation was a ‘hit piece’ and ‘irresponsibly written,’ supposed to tarnish their firm’s fame.
Ciardelli, unveiled a ‘monetary wellness’ app final fall, the place he emphasised Assured Price’s dedication to ‘caring about individuals and their total well-being.’
‘One thing we’re keen about at Assured Price is caring about individuals and their total well-being,’ Ciardelli mentioned in entrance of a reside viewers in Occasions Sq., accompanied by wellness luminary Deepak Chopra.
‘We wished to make it possible for we did one thing to assist individuals of their common stress and alleviate ache,’ he added.
However Ciardelli’s former workers paint a really totally different image in regards to the work setting their boss fostered.
Some former workers acknowledged that the poisonous work setting was so dangerous, it led them to hunt psychological well being care, with one particular person even contacting a suicide hotline final 12 months, based on the report.
Ciardelli, who has a reported web value of $500 million, spent a report $37.5 million on a Miami Seashore house in 2021
Assured Price vehemently denies the allegations, claiming the Tribune investigation was a ‘hit piece’ and ‘irresponsibly written,’ meant to tarnish their firm’s fame (pictured)
A number of girls additionally recalled a sexualized office tradition within the report.
They detailed cases the place male mortgage officers and managers allegedly made sexually specific feedback, flirted with feminine workers on the workplace and at work occasions, and made inappropriate remarks about their appears to be like.
The referenced one instance the place a lady was inspired to make use of her appears to be like to assist shut a mortgage.
A number of former workers avoided reporting their grievances to human sources, fearing that Ciardelli or different executives would intrude in departmental issues and doubtlessly retaliate, the Tribune reported.
And two former workers claimed they witnessed cases the place firm leaders shielded particular workers members from penalties.
Others who did lodge complaints expressed dissatisfaction with the outcomes – stating that their issues weren’t taken severely by the division.
However Ciardelli and Assured Price have firmly denied these allegations, describing the corporate as a ‘supportive office’ particularly for girls.
Assured Price, headquartered in Chicago’s North Heart neighborhood, has seen important progress since its founding in 2000.
It has grow to be one of many largest mortgage lenders within the nation based mostly on mortgage quantity, based on Inside Mortgage Finance.
Ciardelli, who has a reported web value of $500 million – as per Iamgoldpanda.com – spent a report $37.5 million on a Miami Seashore house in 2021.
He is no stranger to star-studded occasions, having been pictured at an occasion for the embattled Cuba Gooding Jr, hosted by rapper 50 Cent in 2023. He is additionally been captured throwing the primary pitch earlier than a sport between the Philadelphia Phillies and the Chicago White Sox again in 2016.
He unveiled a ‘monetary wellness’ and ‘private well-being’ app final fall in entrance of a crowd with Dr. Deepak Chopra (pictured) the place he emphasised Assured Price’s dedication to ‘caring about individuals’
In response, Ciardelli, dismissed criticisms of the corporate and positioned the blame on disgruntled former workers
In response, Ciardelli, dismissed criticisms of the corporate and positioned the blame on disgruntled former workers.
A Assured Price spokesperson advised Dailymail.com that the article printed by the Chicago Tribune was a ‘hit piece written to tarnish our firm’s fame.’
‘We categorically disagree with what was written within the article and imagine it to be inaccurate. A lot of the article was fueled by former disgruntled workers who are actually working with a competitor,’ the spokesperson continued.
‘We offered the Chicago Tribune with an incredible quantity of data that debunked the story that was irresponsibly written. We offered them with over 80 testimonials of present feminine executives, prime feminine mortgage officers and former firm workers documenting their optimistic expertise on the firm and love for the tradition.’
The corporate mentioned the accusation towards them won’t deter them from having a ‘enjoyable’ and ‘optimistic’ work setting.
‘This text won’t deter us from having enjoyable, persevering with to remain optimistic, supporting each other, and serving our clients. Though we disagree with what was written, we need to be higher and proceed to enhance. As such, we are going to lean into what extra we are able to do to make the corporate even better than it’s right now.’
‘We’re extra inspired than ever by the place we’re right now and what our future will deliver. We’ll proceed to make a optimistic influence within the lives round us, the lives of our clients, and the lives of the individuals within the communities we serve.’
