Corigin Real Estate Group, a private equity firm based in Manhattan, filed suit to foreclose on $20 million in loans for 122 East 58th Street – a tony Manhattan property owned by Mosdot Shuva Israel, a nonprofit organization headed and controlled by embattled kabbalist Rabbi Yoshiyahu Yosef Pinto.
Rabbi Yoshiyahu Yosef Pinto
Kabbalist’s US Charity Sued By Lenders For Forclosure
Shmarya Rosenberg • FailedMessiah.com
Corigin Real Estate Group, a private equity firm based in Manhattan, filed suit to foreclose on $20 million in loans for 122 East 58th Street – a tony Manhattan property owned by Mosdot Shuva Israel, a nonprofit organization headed and controlled by embattled kabbalist Rabbi Yoshiyahu Yosef Pinto, the Real Deal reported today.
The complaint was filed late last week in Manhattan Supreme Court.
Corigin claims Mosdot Shuva Israel defaulted on the loans on March 17.
The lawsuit names members of Mosdot Shuva Israel’s board of directors as defendants, including Ilan Bracha and Haim Binstock. It also names top Pinto aide (and relative) Ben Zion Suky, Yosi Zaga, Joseph Ben Moha and Haim Revah and claims they provided guarantees for the now-defaulted loans.
The suit claims that $14.3 million is owed on a $15 million note and another $3 million on a $5 million note.
Suky told The Real Deal there was an agreement with Signature Bank to extend the loan, but Signature Bank sold the loan to Corrigan.
“They [Signature] agreed to extend the loan and reduce the interest on the loan,” Suky said. “We are thinking about what will be our next step on Signature Bank. We have a bank that we’re going to refinance with, in the next few days.”
Mosdot Shuvu Israel bought the property in 2009 for $28.5 million to use the space for a synagogue, school and administrative offices.
Pinto is under criminal investigation in Israel for alleged embezzlement, witness tampering, money laundering, bribery and related crimes.
Last month Tomer Shohat, a hedge fund manager, sued Pinto.
Shoat accuses Pinto of having an NYPD detective, Eric Patino, arrest Shohat on bogus grand larceny charges. Those charges were dropped by prosecutors shortly after they were filed.
Shohat also accuses Pinto’s chief aide Ben Zion Suky of embezzling money from the Metro Apartments at 440 West 41st Street, where Shoat’s hedge fund and Suky were both investors.
Shohat’s arrest by Patino was allegedly done to get Shohat to turn over the evidence of Suky’s alleged thefts to Pinto.
Earlier today it was reported that Pinto's Israel-based Hazon Yeshya charity will be liquidated due to repeated deception and lies used to deceive donors and steal their money.
The suit as a PDF file: