(Above left) Rendering by Skidmore, Owings & Merrill LLP of The Carillon, a 60-story condominium/hotel tower that would have replaced George A. Tripp House (above right) at 42 East Superior Street, along with 44 and 46 East Superior Street.
Documents submitted by law firm representing Carillon Tower developer created false impression, says official, that $49.5 million would be returned to Chinese investors.
28-Mar-22 A $50 million loan from a group of Bahrain-based investors, cited as collateral by the developer of a failed Superior Street skyscraper, was most likely non-existent and an act of fraud, according to a federal court official appointed by United States District Judge Charles P. Kocoras.
Attorneys for New York-based investor Jeffrey Laytin, a director of Symmetry Property Development, had claimed the Bahraini money would be used to pay back a group of Chinese investors.
More than a year ago, Kocoras appointed the official, designated a special master, to sort through paperwork submitted by Laytin and the law firm representing him, Greenberg Traurig, LLP. According to one of the attorneys representing the investors, what the special master uncovered was not simply messy paperwork but rather an elaborate fraud.
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The special master said that the supposed loan from the Middle East to pay off the Chinese investors was made up, fake, and that the lawyers were giving forged documents to the court, said Douglas Litowitz (left), who along with attorney Glen… |
