A Denver Nuggets superfan known as the “Red Pant Man” has been accused of squandering the profits from his single-branch Lakewood bank on “a veritable fleet of aircraft.”
Michael Quagliano, an Illinois native who lives in Florida, is the majority shareholder and chairman at the publicly traded Solera National Bank, which opened in 2006 with a focus on Hispanic customers. Its only location is at 319 S. Sheridan Blvd. in Lakewood.
“But the aircraft were not sitting unoccupied in an aircraft hangar in a Denver suburb,” the developer goes on to allege. “They appear to have been repeatedly used by Quagliano … to literally jet around the country following his favorite basketball team.” “Let Mr. Salazar buy a bank and see how well he can do,” Quagliano said. “We made $18 million last year. Eighteen million. Which is just unbelievable for a bank our size. How did we get there? Well, that’s a business decision. I’m really proud of what we do at Solera.”Colorado-based hog producer Midwest Farms faces federal suit on sexual harassment claims
“It is unclear why the company would need to own an entire fleet of personal aircraft,” Salazar’s lawsuit states, referring to the bank. “Currently, the company owns more aircrafts than it has members on the board. There can be no legitimate business purpose for doing so.” By including the bank’s private aircraft in his TikTok videos, Quagliano has allowed Salazar to track their use. In a June 15 post, he boards a plane with the registration number N420NW and uses hashtags like “#denvernuggets” and “#courtsideseats.” That plane is registered to Solera Aviation. His next TikTok video shows him in courtside seats at a Nuggets game.
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