EVERETT, Mass. -- A property owner in desperate financial straits held a gun to the head of banker who came to foreclose, police said.

NewsCenter 5's Bianca de la Garza reported that Dean Colantuoni was charged with assault with intent to murder.

Colantuoni was arrested after he allegedly pulled a gun on Phillip Freeham, a bank employee from East Boston Savings Bank who was attempting to foreclose Colantuoni's property, Stadium Fruit and Flowers, on Monday.

A police reported obtained by NewsCenter 5 said Colantuoni "grabbed Mr. Freehan by the neck tie and pointed a hand gun at his head ... " The police report said Colantuoni told Freehan "Don't make me do this," and Freehan replied, "You don't have to do this."

The president of the bank, Robert Verdonck, said they still plan to foreclose on the business. Next time, Verdonck said, they will bring the police.

Verdonck said the bank was "forced into this situation ... trying to work with this person over the years."

Colantuoni recently sold the business, but still owns the land where Stadium Fruit and Flowers stands.

Colantuoni was ordered held until Tuesday. He faces additional charges of carrying a gun without a license.