The Upper West Side is known for many things–but fraud? Not necessarily as EXTELL’s 50 West 66th Street hasn’t been named yet, but read on:
Image Courtesy The Real Deal
Our friends at THE REAL DEAL (linked, but article since removed) Published “Extell’s former EB-5 regional center director says Gary Barnett defrauded her” making claims about the EB-5 visa program. According to Lela Goren, regional center director and former 20% investor, Extell’s founder and president has defrauded her to the tune of $65M–OUCH!
According to Goren’s claim, funds were mis-used on projects such as “One Manhattan Square, the $1.9 billion condominium project in the Lower East Side. It also helped fund the rental tower 555 10th Avenue and 50 West 47th Street, known as the International Gem Tower“.
Extell denies the claims of Goren, who once worked as a consultant for Extell for a decade.
Thumbnail image courtesy The Real Deal