Yair Levy, who pleaded guilty last month to harassing Kent Swig with an ice
bucket during a business meeting, is now suing Swig. Levy
filed a lawsuit in Manhattan State Supreme Court this week claiming
that Swig allegedly siphoned off $50 million in Sheffield57
construction funds for personal uses. The suit also alleges Swig paid
his company Swig Equities millions in commissions. According to the
suit, Levy, Swig and Serge Hoyda are in default on at least $100
million in loans. “Yair Levy and Serge Hoyda, investors in the
Sheffield Sponsor, have been victimized by Kent Swig, who took millions
in loan advances from the senior lenders, Wells Fargo and Guggenheim,
when those lenders knew Swig was vastly over budget and knew or should
have known that Swig was using the loan proceeds for personal
purposes,” said Stephen Meister, Levy’s lawyer. [more]