Citibank says Sheldon Solow owes $86M
December 19, 2008 04:00PM
Sheldon Solow
Citibank filed suit against
Sheldon Solow this week, saying that he has failed to pay back $67
million in loans and $18.5 million in letters of credit. The funds were
part of a half-billion-dollar loan that Citi gave Solow in 2004 to finance a
series of buildings along the East River, where construction hasn't
started yet. On Monday, it was revealed that Marc Dreier, the lawyer
accused of defrauding investors of more than $300 million, had been trying to sell
fake Solow Realty promissory notes to investors.
[Cityfile]
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Comments
Anonymous
Madoff and Drier have it.
Comment #1 Posted By: Anonymous 12/19/08
Anonymous
And it don't stop, and it won't stop. This is a billionaire, what is going on here? If he borrowed the money--pay it back. Is he a theif? The guy owns 9 West, one of the best and biggest office buildings in NYC. What is the real story here?
Comment #2 Posted By: Anonymous 12/21/08