DA Expects Nir Meir’s XI Fraud Case to Go to Trial

Former HFZ Capital exec Nir Meir is the only remaining target for prosecutors in a sprawling $86 million fraud case, involving the XI condo project on the High Line.

In 2024, nine defendants, including Meir, were indicted over allegations of fraudulent activity connected with developer HFZ’s projects. Seven reached plea deals with the district attorney. At a brief court appearance on Wednesday in Lower Manhattan, prosecutors were not able to secure a guilty plea from Meir. And, according to prosecutors, they don’t expect to get one any time soon.

“We’ve continued to have some discussions with counsel as to whether this is a way of resolving this short of trial,” said assistant district attorney Christopher Beard at court. “I frankly don’t see that as a possibility. I don’t think Mr. Meir has changed his position, despite diligent efforts by his attorney.”

The Manhattan D.A.’s office is narrowing in on Meir after his original co-defendants, Omnibuild’s former co-CEO John Mingione and accountant Kevin Stewart, pleaded guilty to a small role in the fraud on Monday. All of the other defendants — five individuals and three businesses — in the alleged fraud have pleaded guilty or entered into deferred prosecution agreements.

Meir, who appeared at the courthouse wearing black pants and a sweatshirt, has pleaded not guilty. Prosecutors told the court in February they were at an impasse on a plea deal with Meir.

Meir’s attorney, however, expressed optimism that the case would be resolved soon.

“Mr. Meir is being fairly treated by both the Court and the District Attorney’s office,” said Stephen McCarthy, Meir’s criminal defense attorney in a statement. “All of the other charged individuals have successfully resolved their cases. Mr. Meir is working toward a successful resolution as well.”

Meir’s path to resolution will likely look much different than the other defendants. Notably, none of the original defendants received jail time.

Prosecutors regard Meir as the mastermind of the $86 million fraud. Meir faced four separate indictments covering a litany of serious charges, including grand larceny, conspiracy and tax fraud. (The D.A. is now consolidating those indictments into one.)

If found guilty at trial, Meir could potentially face decades behind bars.

Prosecutors allege Meir diverted hundreds of millions of dollars out of HFZ’s luxury real estate projects to cover shortfalls on other HFZ projects, and at times, to personal accounts controlled by HFZ executives. At the center of the fraud was the XI, HFZ’s marquee condo project. Prosecutors allege Meir directed $253 million designated for the project to different LLCs controlled by HFZ.

Meir was fired from HFZ in December 2020 in dramatic fashion. His former boss Ziel Feldman sued him, calling him a sociopath, alleging Meir diverted money from HFZ to enrich himself.

Meir departed for Miami and lived in a $150,000 per month estate in Miami Beach, spending lavishly on sushi dinners and fine wine.

In February 2024, he was arrested at the One Hotel in Miami Beach and extradited to New York City. Unable to pay his $5 million bail, Meir was detained on Rikers for about a year. His bail was lowered and Meir was released in early 2025, only to be sent back to Rikers and released again.

Meir is now restricted to home confinement in an apartment in New York City. Sources say Meir resides in Brooklyn. At the appearance on Wednesday, Judge Ann Thompson granted Meir two hours of free time every day, between 12 p.m. and 2 p.m. Once a muscular and svelte developer, at court Meir cast a different physical appearance. McCarthy hoped the free time would grant Meir the opportunity “to exercise — I think that would benefit him and the ultimate decision-making in our case.”

If Meir cannot reach a deal with the D.A., he is expected to go to trial around September. A trial date will be set at the next court appearance on July 1.

After the court proceedings ended Wednesday, Meir asked The Real Deal to “finally write objectively” about him.

At one point, Meir’s attorney tried to interject. But Meir replied, it was OK.

“They used to glorify me,” said Meir.