Brooklyn dealmaker Bert Dweck faces barrage of lawsuits over missing money, bad checks

"The Brooklyn-based dealmaker is facing seven lawsuits in New York state court. In total, investors and lenders are seeking at least $14.4 million. Taken together, the cases paint a picture of a broker whose alleged cash crunch spiraled across multiple real estate deals and personal lending relationships. Several lawsuits accuse Dweck of failing to return money that was supposed to remain in escrow accounts, while others allege he solicited funds for deals that either stalled, collapsed or never materialized."

"The lawsuits began piling up in December, when five companies filed a lawsuit in New York state court alleging he stole $2.8 million tied to three real estate deals: 1526 Grand Concourse in the Bronx, and 4188 and 4910 Broadway in Manhattan. According to the complaint, each deal followed a similar pattern: Dweck approached investors with an opportunity to acquire a property, the investors wired funds, and Dweck would allegedly disappear with the money. The investors allege Dweck even provided phony documents as part of the deal."

"The investors, led by a group called Patriarch President Capital, say Dweck's lawyer, Jacques Erdos, assisted in the alleged fraud by releasing escrow funds directly to Dweck. Dweck denied the allegations in a response filing. His attorney declined to comment. In a statement, Erdos's lawyer said Erdos was Dweck's attorney and disputes the allegations asserted against himself, denies wrongdoing, and believes the claims against himself lack merit."

"His father and mother, Isaac Dweck and Marlene Dweck, have also been named in some lawsuits. The legal drama is reverberating through Brooklyn's tight-knit Syrian Jewish, which Dweck and his family are a part of. The allegations in the Patriarch case were not isolated. Within"

Seven New York lawsuits seek at least $14.4 million from a Brooklyn dealmaker. Allegations include unpaid loans, bounced checks, and refusal to return escrow money. Several cases claim funds meant to remain in escrow were not returned. Other cases allege investors were solicited for real estate deals that stalled, collapsed, or never materialized. The lawsuits describe a pattern in which investors wired money after being approached with property opportunities, followed by disappearance with the funds and, in some claims, use of phony documents. Some complaints also name the dealmaker’s parents and allege an attorney helped release escrow funds directly to him. The accused parties deny wrongdoing.

Read at therealdeal.com