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

TRD NEW YORK /
Jul.July 19, 2017 08:00 AM

One57 and Kolawole “Kola” Aluko (Credit: Getty Images)

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
Sharif El-Gamal (Photo by Desiree Navarro/WireImage)

WATCH: Developer Sharif El-Gamal has Covid-19. But he’s one of the lucky ones

Knotel CEO Amol Sarva 

Another huge round of layoffs for Knotel

Miki Naftali, Steven Witkoff and Ryan Freedman

TRD Talks: How developers are contending with coronavirus

Governor Andrew Cuomo (Photo by Spencer Platt/Getty Images; iStock)

Cuomo’s foreclosure, mortgage moratorium has no teeth

From left: Realogy's Ryan Schneider, Cushman & Wakefield's Brett White and Newmark Knight Frank's Barry Gosin (Credit: iStock)

Brokerage stocks plunge amid market turmoil

Mayor Bill de Blasio halted ULURP, stalling projects like 960 Franklin Avenue, Rikers Island and Industry City 

These projects could be held up by New York’s rezoning freeze

Eric Garcetti orders a moratorium on LA commercial evictions (Photo credit: iStock photo)

LA mayor orders a moratorium on commercial evictions

Mayor Bill de Blasio and Westchester Square Hospital in the Bronx (Credit: Lev Radin/Pacific Press/LightRocket via Getty Images; Google Maps)

New York City seeking sites for coronavirus triage centers

arrow_forward_ios
Loading...