Uncategorized
Real estate mogul sues former business partner over 'hidden' money – New York Post
Thanks for contacting us. We've received your submission.
A real estate mogul who claimed his former business partner plotted to inject him with a psychedelic drugs has filed a new lawsuit that says the same man is hiding money to avoid paying him back.
Jacob Frydman — the former CEO of Manhattan real estate firm United Realty Trust — brought yet another lawsuit against the company’s president Eli Verschleiser.
The suit claims Verschleiser owes him over $200,000 in judgments from concluded lawsuits and stands to owe Frydman millions more in a remaining federal lawsuit.
Verschleiser, “has secreted millions of assets through a complex labyrinth of associates, closely held corporations, limited liability companies, and charities in an attempt to thereby render himself insolvent as to avoid the consequences of certain litigated matters,” Frydman’s Manhattan federal lawsuit alleges.
Some of Verschleiser’s financial slights-of-hand include allegedly transferring over 3,000 pieces of artwork worth nearly $2.5 million to a non-profit that Verschleiser controls and moving shares worth $1.8 million to the Verschleiser foundation.
Frydman also claims that Verschleiser gave his namesake foundation hundreds of thousands in loans and transferred a $650,000 Brooklyn property and a $480,000 Chestnut Ridge property to companies he owns all in an effort to make it look like he’s worth millions less than he is, the lawsuit alleges.
“He’s moving money and assets around so that it is not in his name so that it is difficult, if not impossible, for his creditors to get a hold of it,” Frydman’s lawyer Neal Brickman said.
Frydman sold United Realty but still works in the real estate business, his lawyer said.
Verschleiser told The Post the lasted lawsuit was filed in retaliation for a new suit Verschleiser brought against Frydman.
“He’s a serial fraudster. He has over 300 lawsuits against him for fraud and he loves to use reporters to hurt people like me. He stole millions of dollars from me.”
“I’m beating him [legally] so he keeps trying to scare me away,” Verschleiser added.
Last year, Frydman claimed that after a deposition for one of their lawsuits a hulking Verschleiser cornered him in an elevator punched him, scratched him and pulled his hair, according to the earlier case filed February 2018.
“If you do not immediately end the lawsuits against me, I will put an end to you,” Verschleiser allegedly warned.
Frydman also claimed in that suit that Verschleiser hired criminals to follow him to court and stick him with a syringe filled with LSD so that he would behave “insane.”
