Feds will seize 5 South Florida properties from CEO indicted on fraud charges

The move to seize the properties stems from an indictment of Daniel Joseph Touizer of Fort Lauderdale-based Wheat Capital Management

Miami /
Feb.February 17, 2018 11:00 AM

8368 Serena Creek Avenue in Boynton Beach (Credit: Realtor-com)

Federal prosecutors will seize five properties in South Florida they claim were acquired with fraudulently obtained funds.

Prosecutors filed liens to seize the properties in connection with an indictment of Daniel Joseph Touizer, founder and chief executive officer of Fort Lauderdale-based Wheat Capital Management. Three of the properties are self-storage facility development sites, and two are residences.

Daniel Joseph Touizer

The U.S. Attorney for the Southern District of Florida indicted Touizer in September on charges of mail fraud, wire fraud and conspiracy to commit fraud.

An amendment to the indictment on Nov. 21 charged co-defendants Saul Daniel Suster and John Kevin Reech with mail fraud.

The defendants allegedly used false statements to defraud more than 150 investors who thought they were putting money into businesses controlled by Touizer, an Aventura resident.

According to the fraud indictment, Touizer used most of the $19 million he raised from investors to pay his personal expenses or sales commissions to agents in a call center.

Attorneys for the defendants either declined to comment or were unresponsive to a request for comment.

The five properties subject to seizure include a 3,024-square-foot house at 8368 Serena Creek Avenue in Boynton Beach and a 3,200-square-foot residence in Courtyard at the Point, 21213 Northeast 38th Avenue in Aventura.

Also subject to seizure is a 50,625-square-foot site at 2915 Northwest 36th Street in Miami, which is approved for construction of a self-storage facility.

Construction of self-storage facilities is already under way at the other two properties subject to seizure: a 42,991-square-foot site at 2801 John P. Lyons Lane in Pembroke Pines and 2.6-acre site in Margate on Northwest 31st Street just west of State Road 7. [South Florida Business Journal] – Mike Seemuth


Related Articles

arrow_forward_ios
David Grutman and Pharrell’s Goodtime Hotel had received nearly 30 noise violations (Carma Connected, Getty)
Too much of a good time? David Grutman and Pharrell’s Goodtime Hotel could lose entertainment permit
Too much of a good time? David Grutman and Pharrell’s Goodtime Hotel could lose entertainment permit
Related Companies Chairman Stephen Ross with One Flagler (Related, Getty)
Prayers answered? Related Companies closes on church site for planned office tower in downtown West Palm
Prayers answered? Related Companies closes on church site for planned office tower in downtown West Palm
Grover Corlew principal Mark Corlew with Bank of America Tower in Boca Raton (Grover Corlew)
Grover Corlew buys Bank of America Tower in Boca Raton for $45M
Grover Corlew buys Bank of America Tower in Boca Raton for $45M
The partially collapsed 12-story Champlain Towers South condo building (Getty)
Inside the tug-of-war over the Surfside condo site’s future
Inside the tug-of-war over the Surfside condo site’s future
Moishe Mana and the downtown parking lot he purchased (Google Maps, Getty)
Moishe Mana expands downtown Miami assemblage with $12M purchase
Moishe Mana expands downtown Miami assemblage with $12M purchase
 Adam Neumann (Getty, Bal Harbour Florida)
Ex-WeWork CEO Adam Neumann inks $44M deal for Bal Harbour properties
Ex-WeWork CEO Adam Neumann inks $44M deal for Bal Harbour properties
Alex Sapir and Giovanni Fasciano with Arte by Antonio Citterio in Surfside (Photos via Arte by Antonio Citterio/PR Newswire)
Miami penthouse sets cryptocurrency sale record: $22.5M
Miami penthouse sets cryptocurrency sale record: $22.5M
Dusko Bruer pictured with one of his yachts and his Lake Worth property. (Facebook via Bruer, Southern District of Florida | United States District Court)
Palm Beach County resident who evaded taxes, splurged on Lake Worth Beach manse, sentenced
Palm Beach County resident who evaded taxes, splurged on Lake Worth Beach manse, sentenced
arrow_forward_ios

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

Loading...