The Real Deal New York

Missing cash from Menachem Stark account was taken slowly

January 24, 2014 04:51PM

The $1.7 million that was “improperly” removed from a bank account controlled by slain Brooklyn landlord Menachem Stark and his business partner Israel Perlmutter was withdrawn over a “protracted period of time,” according to new court filings.

Jonathan Flaxer, a court-appointed trustee for an in-debt building at 100 South 4th Street owned by Stark and Perlmutter, Told United States Bankruptcy Court Judge Elizabeth Stong that the money was removed over time, the New York Daily News reported. The money was removed before Stark’s abduction and murder earlier this month, Flaxer added.

A subsidiary of lender Deutsche Bank, acting as a trustee for a 
defaulted $29 million loan on Stark and Perlmutter’s 74-unit Williamsburg 
rental property at 100 South 4th Street, prompted the review of the bank account, as The Real Deal reported.

The investigation into Stark’s death, which sent shockwaves through Williamsburg’s Orthodox Jewish Community, is ongoing. Police said recently that though Stark owed millions of dollars to multiple creditors, the kidnapping that led to his death was likely ordered over a single debt of $20,000.  [NYDN]Hiten Samtani

  • anon

    so the “Europeans” in the beat up Chrysler mini van also absconded with $ too over a “protracted period of time”?

    • Brian Geary

      No, Stark likely stole it. The “Europeans” (probably Russian or Israeli Jewish mobsters) probably killed him b/c he “borrowed” money from them, too, and wouldn’t pay it back.

      • Rodney Dangerfield

        Correct, what most thieving businessmen misunderstand is that as smart as you are in outwitting people of their money there are people you can steal millions from that wont harm a hair on your head but then there are some people if you take $20 dollars you end up in a dumpster on fire.