Real estate investor who funded defense of indicted developer wants the money back

A company run by Glenn Straub of Wellington wants the law firm representing indicted Palm Beach developer Robert V. Matthews to return $150,000 wired on May 29

TRD MIAMI /
Sep.September 22, 2018 03:35 PM

Glennn Straub (Source: Casino.org)

Wellington real estate investor and businessman Glenn Straub claims he has loaned $150,000 to finance the defense of indicted Palm Beach developer Robert V. Matthews. But the two later clashed in a “business dispute,” and now Straub is suing to get the money back.

Straub’s company Palm Beach Polo Inc. filed a complaint against Matthews’ law firm, Wiggin & Dana LP, in the U.S. District Court for Florida’s Southern District. The Connecticut-based law firm has an office in Palm Beach.

Palm Beach Polo alleged in the complaint that an unspecified “business dispute” with Matthews in early July led the company to demand the return of $150,000 it wired to the law firm on May 29.

Straub, who is not named as a plaintiff in the complaint, is president of Palm Beach Polo, according to state records. Larry A. Zink, the attorney who filed the complaint, referred questions from the Palm Beach Daily News to the Wellington office of Straub, who was unavailable for comment.

Robert V. Matthews

Matthews is awaiting trial at a federal court in Connecticut on 21 counts of defrauding investors, evading tax and laundering money. His indictment stems from his role as developer of a bankrupt project to renovate the Palm House hotel-condominium at 160 Royal Palm Way in Palm Beach.

Matthews has pleaded not guilty to the charges in the indictment and to separate securities fraud charges in a civil suit filed by the U.S. Securities and Exchange Commission.

Straub is a former owner of the Palm House and holds a $27.5 million mortgage on the property through one of his companies. The unpaid $27.5 million loan led to a foreclosure suit. The loan is now the largest secured debt in Palm House’s Chapter 11 corporate bankruptcy case.

Together with its complaint in federal court, Palm Beach Polo filed a loan agreement between Straub, as president of the company, and Matthews’ wife, Maria “Mia” Matthews.

The complaint alleged that, in early May, Mia Matthews asked about the possibility of borrowing money from Straub’s company to finance Robert Matthews’ defense.

The loan agreement between her and Straub’s company was dated May 28, one day before the company wired $150,000 to the Wiggin & Dana law firm. [Palm Beach Daily News] Mike Seemuth


Related Articles

arrow_forward_ios
Glenn Straub (Credit: iStock)

Wellington developer Glenn Straub charged with larceny

Wellington developer Glenn Straub charged with larceny
2965 West Corporate Lakes Boulevard and Black Creek Group CEO Raj Dhanda (Credit: Google Maps, Blue Vault)

TIAA sells Weston warehouse for $33M

TIAA sells Weston warehouse for $33M
Glenn Straub and the Palm Beach Polo and Country Club property (Credit: Google Maps)

Glenn Straub sells piece of Wellington polo club after failed development attempt

Glenn Straub sells piece of Wellington polo club after failed development attempt
State report finds open gas valve fueled building explosion at Plantation shopping center

State report finds open gas valve fueled building explosion at Plantation shopping center

State report finds open gas valve fueled building explosion at Plantation shopping center
Bayside Marketplace is planning another high-rise entertainment venue with a view

Bayside Marketplace is planning another high-rise entertainment venue with a view

Bayside Marketplace is planning another high-rise entertainment venue with a view
Construction of downtown Hollywood high-rise may start soon

Construction of downtown Hollywood high-rise may start soon

Construction of downtown Hollywood high-rise may start soon
Jeffrey Epstein (Credit: Daily Beast | Getty)

Jeffrey Epstein commits suicide by hanging himself in his Manhattan jail cell

Jeffrey Epstein commits suicide by hanging himself in his Manhattan jail cell
South Florida firm, partner acquire Tampa office building for $29.4M

South Florida firm, partner acquire Tampa office building for $29.4M

South Florida firm, partner acquire Tampa office building for $29.4M
arrow_forward_ios

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

Loading...