Why the biggest foreclosure auction in city history is on hiatus

Owner of One57 penthouse is accused of buying the unit with illicit oil sale proceeds

New York /
Jul.July 19, 2017 08:00 AM

The biggest foreclosure auction in the city’s history is being put on hold after a new creditor claimed that the owner of the One57 penthouse owes $83.1 million for gasoline and jet fuel.

Debt collector Campion Maverick Inc. filed papers in Florida federal court this month claiming the owner of unit 79 — two shell companies linked to Nigerian businessman Kolawole Akanni Aluko — has an outstanding gasoline and jet fuel bill, Bloomberg reported. The debt collector is seeking to force Aluko’s shell companies into bankruptcy to cover the unpaid bills. The foreclosure auction was slated for today but will now be rescheduled.

Luxembourg-based Banque Havilland is pushing for the sale of the $50.9 million, claiming that Aluko hasn’t been keeping up on payments of a $35.3 million mortgage. The U.S. Justice Department plans to collect the remaining proceeds of the unit’s sale. Aluko is accused of violating U.S. contracts, bribing a government official and selling $1.5 billion worth of Nigerian crude oil. From those sales, Aluko purchased three private jets, 58 cars, luxury real estate in Los Angeles and London, as well as the 6,240-square-foot penthouse at One57.

On Friday, the Justice Department filed a lawsuit in Houston attempting to seize the condo unit as well as Aluko’s yacht, which prosecutors claim were bought as part of a $144 million money laundering scheme. [Bloomberg] — Kathryn Brenzel 


Related Articles

arrow_forward_ios
Rotem Rosen with rendering of 126 E 57th Street (Getty, ODA Architecture)
Rotem Rosen lands $170M construction loan for Billionaires’ Row condo
Rotem Rosen lands $170M construction loan for Billionaires’ Row condo
198 Scholes Street, 65 Kent Avenue, 506 DeKalb Avenue and 11 Gunther Place (Illustration by the Real Deal with Getty, Google Maps)
Avi Philipson deal to acquire All Year portfolio is back on
Avi Philipson deal to acquire All Year portfolio is back on
From left: McSam Hotel Group's Sam Chang and SL Green's Marc Holliday with 711 Seventh Avenue  (Getty, Google Mpas, SL Green)
Times Square hotel developer sues neighbors over delayed demolition
Times Square hotel developer sues neighbors over delayed demolition
From left: JDS Development Group's Michael Stern and Susquehanna International Group's Tim Gong along with 111 West 57th Street (Photo Illustration by Steven Dilakian for The Real Deal with JDS, SIG China, TikTok and Kidfly182, CC BY-SA 4.0 - via Wikimedia Commons)
TikTok investor buys twice at 111 West 57th Street
TikTok investor buys twice at 111 West 57th Street
Napa Valley hot-air-balloon business lists for $12M
Napa Valley hot-air-balloon business lists for $12M
Napa Valley hot-air-balloon business lists for $12M
A photo illustration of the proposed Lower Platte River Corridor (Getty, Plan Preserve Play NE)
Nebraska lawmakers mull digging $1B recreation lake
Nebraska lawmakers mull digging $1B recreation lake
Illustration of Stefan Soloviev (HaydenSoloviev, CC BY-SA 4.0, via Wikimedia Commons, Getty)
Soloviev bets long-dormant Midtown East site in casino sweepstakes
Soloviev bets long-dormant Midtown East site in casino sweepstakes
CHIP's Jay Martin and HCR Commissioner RuthAnne Visnauskas (Getty)
Lies, damn lies, and statistics: Did rent-stabilized vacancies really fall?
Lies, damn lies, and statistics: Did rent-stabilized vacancies really fall?
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...