Raphael Toledano may have ties to Truman & Wildes, a bogus real estate law firm
TRD Special Report: In the summer of 2014, a New York landlord with a modest portfolio received a letter from a certain Raphael Toledano, Esq. In the letter, Toledano allegedly identified himself as belonging to Truman & Wildes LLP, a Park Avenue law firm. He claimed to be representing real estate investor Josh Zegen in a 1031 exchange, and assured the landlord that his client was interested in one of his buildings and would “pay above market value” for it.
The issue, however, is that Truman & Wildes LLP is bogus. It is not a licensed law firm in the tri-state area, and isn’t even a registered entity in Delaware, Connecticut, New Jersey or New York. Its website, which was taken down shortly after The Real Deal began making inquiries, appears to be a basic web template with language lifted verbatim from legitimate law firms. Misrepresenting oneself as a lawyer is illegal.
For his part, Toledano, a former broker and now a prominent local real estate investor, denies any connection with the law firm. But property records and interviews with his former employees, business associates and industry players indicate otherwise. [more]