Boca Raton real estate honcho James Batmasian gets presidential pardon

Batmasian served eight months in federal prison in 2008 for not paying the IRS about $250K

Miami /
Dec.December 24, 2020 02:30 PM
President Donald Trump and James Batmasian (Getty, White House)

President Donald Trump and James Batmasian (Getty, White House)

South Florida commercial real estate developer James Batmasian was among the 26 people who received a pardon from President Donald Trump on Wednesday.

The Boca Raton real estate mogul served eight months in federal prison in 2008 for not paying the IRS about $250,000 in payroll taxes tied to his real estate business Investments Limited.

Batmasian’s pardon, announced by the White House, was supported by Rep. Brian Mast, criminal justice reform advocate Alice Johnson, and famed golfer Bernhard Langer who is a friend of President Trump.

In a statement, the White House cited Batmasian’s charitable work. It also mentioned that the developer recorded all of its payments and “made no attempt to hide them when confronted by the IRS.” He also fully repaid the IRS the money he owed, according to the White House.

“I am so grateful for President Trump’s benevolence, as are all the members of my family,” Batmasian said in a statement.

Trump also pardoned former Palm Beach County commissioner Mary McCarty who served 21 months in prison for honest services fraud. McCarty was found guilty in 2009 of using her position as a commissioner to direct money into her husband’s bond underwriting business without disclosing it to the public.

Batmasian is no stranger to controversy.

He and his wife Marta were allegedly connected to Boca Raton Mayor Susan Haynie, who is now facing charges of perjury, official misconduct and misuse of public office, among other charges. Prosecutors allege that Haynie failed to disclose her financial ties to the Batmasians, while voting on their projects. Haynie is awaiting trial.

Investments Limited owns and manages about 3,800 apartments and over 3 million square feet of commercial properties in South Florida and around Boston, according to its website. It is among the largest and most active real estate firms in Boca Raton.

The pardon could have large implications on Batmasian’s real estate firm. In particular, it could make it easier for the developer to get financing from a bank.

On Wednesday, Trump also pardoned Kushner Companies boss Charles Kushner who spent over a year in prison on charges including falsifying tax returns, making illegal campaign donations and retaliating against a witness. Kushner’s conviction had been a complicating factor in the company’s ability to get loans, according to David Enrich, a New York Times journalist who authored a book about one of the firm’s biggest lenders, Deutsche Bank.

Others on the list of the 26 pardons issued by Trump Wednesday were Roger Stone, a long time informal adviser to the president, and Paul Manafort, his 2016 campaign chairman.


Related Articles

arrow_forward_ios
The $24.5 million Boca Raton mansion (Coldwell Banker via Compass)
AutoLenders CEO buys waterfront Boca Raton estate for record $25M
AutoLenders CEO buys waterfront Boca Raton estate for record $25M
Jared Kushner and his wife Ivanka Trump have a condo in Surfside and an estate in Indian Creek (Getty)
South Florida resident Jared Kushner to launch Miami investment firm
South Florida resident Jared Kushner to launch Miami investment firm
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
Opterra Capital buys Holiday Inn & Suites Boca Raton for $13M
Opterra Capital buys Holiday Inn & Suites Boca Raton for $13M
Opterra Capital buys Holiday Inn & Suites Boca Raton for $13M
CP Group Managing Partner Angelo Bianco with One Town Center (CP Group)
Singaporean REIT pays $100M for One Town Center office building in Boca Raton
Singaporean REIT pays $100M for One Town Center office building in Boca Raton
5900 Northwest Broken Sound Parkway and Pebb Enterprises President and CEO Ian Weiner (CBRE, Pebb)
Pebb Enterprises buys Boca Raton office building for $15M
Pebb Enterprises buys Boca Raton office building for $15M
Alina Residences in Boca Raton (Alina Residences)
El-Ad scores $53M construction loan for Alina Residences in Boca Raton
El-Ad scores $53M construction loan for Alina Residences in Boca Raton
Rendering of Boca Ice and Fine Arts Center courtesy of Peninsula Ice LLC 
Ice skating gliding into Boca: Arena developers score $14M construction loan
Ice skating gliding into Boca: Arena developers score $14M construction loan
arrow_forward_ios

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

Loading...