High-flying Long Beach aviation executive fired after starting competing company

Aeroplex/Aerolease of Long Beach alleges in lawsuit former CEO Curt Castagna used company funds, personnel to launch consulting firm A 50-year-old company that leases hangers and office space to more than 100 tenants at the Long Beach and Van Nuys airports has fired its longtime, nationally known chief executive officer, accusing him in a blistering lawsuit of using its employees and resources to enrich his competing consulting firm.

“Castagna became visibly upset and aggressive upon hearing that he had been terminated from his positions with the Aeroplex/Aerolease Group,” the suit states. “Although plaintiff’s members informed Castagna that they desired to work together towards a peaceful separation, Castagna suggested that he would sue plaintiffs and would use plaintiffs’ funds to pay for his lawsuit.”

In a news release, Castagna said he has “stepped away” from Aeroplex/Aerolease to focus on running AGP. Aeroplex/Aerolease shareholders first learned about AGP in 2015, when Castagna mentioned the company in a monthly report. Meanwhile, Castagna allegedly expanded Aeroplex/Aerolease offices and utilized its supplies and employees for AGP’s operations without providing fair compensation.

“Curt was working 40 hours per week for NATA, their records show, spending a lot of time in Washington, working for AGP and other interests, and the partners felt that Aeroplex Aerolease Group was not his top priority,” Pfeifer said.

Source: News Formal (newsformal.com)

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