On May 10, two former executives at Bayrock Group file a lawsuit alleging that the company is owned by mafia members (Felix Sater and Tevfik Arif) with the sole purpose of money laundering and tax evasion.
According to a lawsuit filed [in 2010] by two former Bayrock executives, Arif started the firm “backed by oligarchs and money they stole from the Russian people.” In addition, the suit alleges, Bayrock “was substantially and covertly mob-owned and operated.” The company’s real purpose, the executives claim, was to develop hugely expensive properties bearing the Trump brand—and then use the projects to launder money and evade taxes.
New Republic
The list of claims include lying to investors, buyers, and lenders; using the organization for money laundering and tax evasion including paying millions to partners Felix Sater and Tevfik Arif under the table; operating on behalf of the mob or mafia; and creating multiple other businesses to expand operations beyond the Bayrock name.
The other businesses are Ocean Club, Merrimac, Camelback, Spring Street, and Whitestone. If the last name sounds familiar, that’s because it’s similar to White Rock, the illegal brokerage Felix Sater established to commit stock fraud.
Sources
https://newrepublic.com/article/143586/trumps-russian-laundromat-trump-tower-luxury-high-rises-dirty-money-international-crime-syndicate
https://casetext.com/case/kriss-v-bayrock-grp-llc-4
Photo: Patrick McMullan/Getty Images
