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Africa Israel real estate transfers produce mixed results.
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FINCEN
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PostPosted: Mon Sep 19, 2011 2:50 pm    Post subject: Africa Israel real estate transfers produce mixed results. Reply with quote

Lev Leviev's Africa Israel concluded the month of August agreeing to transfer a 49 percent stake in 88 Leonard Street, a 352-unit luxury apartment complex to Chicago based real estate investment firm Waterton Associates for $37 million. Steven Vegh of Multi Investment continued to negotiate with Africa Israel to transfer the remaining 51% 'which consists of the senior mortgage and mezzanine loans,' of the property during the first quarter of 2012. The transfer of the remaining assets priced tentatively at '$17 million, $132 million and $24 million,' was undertaken in stages for accounting purposes. Waterton Associates 'run by University of Chicago graduate Stephen Schwartz,' sought to fund the transfer through the $500 million Waterton Residential Investment Fund 11 after convincing Africa Israel to lower its initial asking price of $200 million for the property. It is interesting to note Leviev and Africa Israel were represented during the negotiations by Cushman & Wakefield, a firm formerly owned by Rockefeller Group International Inc. RGI Inc., sold a 67.5% stake in Cushman & Wakefield to IFIL Group, the investment group of the Agnelli family in 2006.

This news was followed up with expectations for the closing of a deal between Africa Israel and fashion designer Tommy Hilfiger. This deal would have transferred ownership of the Manhattan Clock Tower office building to Hilfiger who planned to convert the property into a luxury hotel. The agreement reportedly unravelled when Hilfiger and Jona Rechnitz of JSR Capital failed to deliver $170 million as agreed upon during negotiations. Africa Israel promptly returned a $5 million deposit Hilfiger and Rechnitz put down after failing to secure the needed financing that would have allowed them to convert the property as planned. As a result of the announcement shares in Africa Israel dropped 2.5% during day trading. Rechnitz is he former director of Africa-Israel acquisitions.

A third transaction involving control of the Apthorp building opened eyes after Africa Israel challenged the Angelo Irish Bank Corporations sale of the buildings $260 million mortgage to Lone Star Funds, a Dallas-based private equity shop. Lone Star acquired the mortgage in a $9.5 billion deal involving the purchase of the Anglo Irish Bank's portfolio of commercial properties and mortgage loans. Lone Star partnered with JPMorgan Chase & Co., and Wells Fargo & Co., in obtaining the portfolio. Lone Star acquired the entire nonperforming portion of the portfolio whereas JP Morgan and Wells Fargo retained the remaining assets. A closer look at Lone Star reveals the Dallas-based firm is headed by one of Ireland's wealthiest individuals John Grayken. Grayken has used Lone Star to acquire the home lending unit former held by CIT '$1.5 billion offset by $4.4 billion in debt,' Accredited Home Lenders Holding Co., '$295 million,' and Bear Stearns ' mortgage division. Grayken and partner Ellis Short came under fire after the latter was indicted by South Korean authorities after Lone Star took over the Korea Exchange Bank. Short promptly retired from Loan Star but continued to maintain a high profile in investment and sporting circles.

Short was absolved latter and led the takeover of troubled German bank IKB Deutsche Industriebank AG. Therefore it is interesting to note the news that the Anglo Irish Bank offered to allow the Quinn family to walk away from 2.8 billion worth of debt in exchange for control of the families crumbling business empire. What the bank sought was control of the families portfolio of international properties, a portfolio that would be included in the aforementioned asset transfer to JP Morgan Chase & Co., and Wells Fargo.
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FINCEN
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Joined: 08 Mar 2006
Posts: 1346

PostPosted: Tue Jan 17, 2012 3:16 pm    Post subject: Leviev business dispute results in police complaint... Reply with quote

Quote:
Gaydamak files police complaint against Leviev
By CHEN MA’ANIT AND ELA LEVY-WEINRIB/GLOBES
01/05/2012 06:58

Russian- Israeli tycoon contends that Leviev has not paid him commissions and dividends on diamonds trading in Africa since 2004.

Arkady Gaydamak has filed a complaint against Lev Leviev with the Israel Police in a dispute over African diamonds.

In the complaint, Gaydamak contends that Leviev has not paid him commissions and dividends on diamonds trading in Angola and the Democratic Republic of the Congo since 2004. He contends that the value of these is $2 billion.

In a press statement, Gaydamak said: “In 1999, in cooperation with the Angolan government, I set up a new method for diamond exports. When the commercial structure for diamond exports was established, I invited Lev Leviev to manage parts of this commercial structure, under verbal and written agreements that included an equal share of the profits.

“Leviev and his partner Berel Lazar, Chabad’s chief rabbi in Russia, maliciously concealed the existence of the written contract. They subsequently fraudulently used the repercussions of the political persecution against me in France, organized a campaign to smear me in the media and made mendacious claims against me with the authorities in various countries around the world in order to fraudulently take from me my substantial profits, which totaled billions of dollars over 12 years from various businesses related to Angola.”

Acts can be considered criminal

“Leviev used sworn testimony, fraud and extortion against me and tried to avoid a ruling by the High Court in London in the statement of claim I filed against him to protect my rights,” the statement said. “Leviev’s acts can be considered criminal, which is why I filed a criminal complaint against him with the Israel Police.”

In December, the High Court’s deputy master nurse in London ruled that the case between them would go to trial on May 21. The judge ruled that there had been an agreement for Leviev to give Gaydamak half of his income from diamonds in Angola.

The agreement between the two men was apparently given to Lazar. Gaydamak claims he has not received the majority of the money from Leviev.

Leviev apparently made billions from the diamond industry, half of which he promised to Gaydamak, who did not want to be publicly associated with the sales at the time, the court said.

From friends to enemies

Leviev and Gaydamak used to be friends and business partners. In the early 2000s, Gaydamak owned 15 percent of Leviev-controlled Africa-Israel Investments Ltd., after buying 5% of the company from a foreign shareholder and 10% from Leviev for $56 million.

At the same time, Leviev and Gaydamak were both linked to the diamond industry in Africa and set up a diamond-trading company as a joint venture, ASCROP. There have been reports that Gaydamak brought Leviev into Angola’s diamond mines.

Shortly afterward, they parted ways and Gaydamak sold his Africa-Israel stake to Leviev at a negligible profit.

Gaydamak also became entangled in the Angola-based illegal arms scandal in France, although he was later acquitted on most of the charges. He was found guilty on lesser charges of arms trafficking and sentenced in absentia to three years in prison.

Last April, Gaydamak filed a statement of claim against Leviev in a London court, saying Leviev has not paid him commissions and dividends on diamonds trading in Angola and the Democratic Republic of the Congo since 2004. He contends that he received an average of $3m. a month from Leviev in 2000-03 and estimated the value of these is $2b.

The dispute concerns Gaydamak’s and Leviev’s business relations in ASCROP, whose shareholders also include the Angolan government and Antwerp-based Omega Diamonds BVBA, according to reports. Gaydamak contends that Leviev owns 24.5% of ASCROP and that his involvement in it is kept secret because they agreed that “Leviev’s public perception as an owner and the owner of the relevant assets is only as a matter of convenience.” Gaydamak also contends that Leviev is the trustee of Gaydamak stake.

Leviev is fighting against these charges, which he told a British newspaper are “embarrassing and hurtful.”

On March 1, 2006, Gaydamak’s attorney at the time wrote to Leviev: “My client intends to approach the Chabad chief rabbi in Russia, the honorable Rabbi Berel Lazar, with a request to send us a copy of the agreement deposited with him by you and by my client in the matter of your partnership in diamond transactions in Angola... The partnership in equal share between my client and you in Angola also concerns every other transaction carried out in Angola. You are hereby also requested to immediately send us every document, financial report and other information relating to other transactions conducted in Angola over the past six years.”

The day before, on February 28, the media reported that the Angolan government had canceled its diamondexport agreement with Gaydamak due to suspicions of breach of contract.

Last month, Gaydamak won an interim victory against Leviev, when the High Court in London ruled against Leviev’s petition to dismiss Gaydamak’s claim.


Unusual move by the Russian-born Israeli who maintains French citizenship. Gaydamak was sentenced to six years in prison and fined 5 million euros for his role in illegal arms deals involving Angola in the 1990s. Gaydamak and his partner Pierre Falcone were accused of using the Slovak Company OSOS-ZTS to sell Russian weapons to the government of Angola a deal worth in the neighborhood of $800 million. As the complaint alleges Leviev owes Gaydamak commissions on diamonds sales dating back several years now valued at $2 billion. In seemingly careless move that opens the nature of both mens covert African dealings to public scrutiny, Gaydamak is gambling big for reasons that aren't readily apparent. This is a situation that bares watching as political unrest and intrigue spread across the African landscape.
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beemoe
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PostPosted: Tue Jan 17, 2012 4:58 pm    Post subject: Beemoe Reply with quote

You`ve been playing with this for quite sometime obviously a link here. tied to that real estate transfer. Hmmmm.
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FINCEN
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PostPosted: Wed Jan 18, 2012 1:01 pm    Post subject: Trouble brews beneath.. Reply with quote

Even bigger than that B., this stretches back to the weapons transfers of the 80s. That is why I was surprised to see Gadamak dragging this into court. The potential for unwanted questions to arise is greatly increased by his actions and maybe that is what he is counting on. Someone stepping in and ordering Leviev to make good on what is owed. There were a number of connections that could prove troubling if brought into the light. We'll have to wait and see how this plays out.
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beemoe
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PostPosted: Thu Apr 05, 2012 10:25 pm    Post subject: Beemoe Reply with quote

I totally missed that University of Chicago connection. Or am I seeing ghosts that don`t really exist? So what is it with that university that you find so fascinating besides it being the "Rockefeller`s University"
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beemoe
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PostPosted: Thu Apr 05, 2012 10:29 pm    Post subject: Beemoe Reply with quote

So Agnelli did sit on the TR "board of directors?"
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beemoe
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PostPosted: Wed Apr 18, 2012 9:01 pm    Post subject: Beemoe Reply with quote

Can you link the beginning of the Africa-Israel? This is obviously a hot topic but I don`t understand the significance
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beemoe
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PostPosted: Thu May 17, 2012 2:07 pm    Post subject: Beemoe Reply with quote

This is so good....I had to read about five times. So this another variation of the guns for diamonds thang. Can you link me with previous posts on this theme?
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beemoe
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PostPosted: Thu May 17, 2012 2:11 pm    Post subject: Beemoe Reply with quote

So this is where Jake got his jewels from? This is the point of orgin and the main M.O. for a lot of the NYC laundering deals as well as Big Meech.
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FINCEN
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Posts: 1346

PostPosted: Fri May 25, 2012 2:03 pm    Post subject: Gaydamak vs. Leviev case opens in London Reply with quote

A rare spectacle pitting Russian Oligarch Arkady Gaydamak, 60, against acclaimed Israeli diamond merchant Lev Leviev, 55, opened in London with claims that the only signed copy of an agreement between the two parties signed in Tel Aviv in December 2001 that was entrusted for safekeeping with the Chief Rabbi of Russia, Rabbi Berel Lazar, has been lost. The court was told that the Rabbi Lazar, no longer has the document. Precisely what happened to the document is a matter of contention as the Rabbi has 'in the words of Gaydamak's attorney Louis Wolfson,' "ducked and dived" in an attempt to avoid explaining how or if the documents have indeed been lost. Wolfson claims Leviev "for some time honoured the 2001 agreement by making partial payments under it," but then betrayed Gaydamak's trust by refusing to "abide by the agreement" before denying its existence altogether.

Leviev denies the claims as he fights the lawsuit while continuing to poor resources into his fledgling Africa-Israel venture. The Uzbekistan-born diamond magnate emigrated to Israel in 1971 at the age of 15. He went on to establish his own factory to cut and polish diamonds and eventually became the world’s largest operator in the industry by clinching partnerships in Russia, Angola and Namibia assuming much of the business formerly held by De Beers. David Wolfson opened the case by acknowledging the unsavory background of both parties. "This trial is not about Mr. Gaydamak and Mr. Leviev and who is the bigger saint. Both have led full and somewhat colorful lives. Therefore, we do urge the court to rely on the central question." He added “This case is about one question alone: did Mr. Gaydamak and Mr. Leviev enter into agreement in December 2001 to split between them the profit made by diamond trading in Angola?"

Gaydamak alleges that he and Leviev agreed that Leviev would hold Gaydamak's share of profits the Angolan Diamond Selling Corporation Sarl, allowing him to keep a low profile. Leviev denies that that there was any deal, and that the document in question was simply an agreement that Gaydamak would donate to a charity he had founded. Among the intrigues threatening to burst forward in the case is a detailed explanation of the connection between Gaydamak, Leviev and the man known as the Lord of War Victor Bout. The notorious graduate of the Soviet Military Institute for Foreign Languages in Moscow has been accused of heading a K.G.B. operation in Angola prior to 1991 when the former Soviet Empire crumbled under the weight of an intense economic attack.
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