The bottom line is that a Manhattan Court dismissed a 250 million dollar tax credit fraud claim case filed against Felix Sater, so things are looking good for him on that front. However the ups, downs, twists and turns which precede this very event are quite entertaining if not somewhat educational in their legality, to say the least. The event and circumstances of some of the evidence presented before the Manhattan court plays out something like soap opera in real time.
The cast involves characters that range from innocent by standing business partners, nonchalant lawyers and even a future president and financial gurus. It all ends in the fall of 2017, but there just might be another chapter to come although a look back on the how and why it all came together is worth the time. The chance that things could have gone bad for the Russian American businessman Sater are gone now as with the case dismissed. Meanwhile, the Attorney General’s office declines not to intervene.
The lawyers who brought the case before the court is named Fred Oberlander who used evidence from an earlier case involving a former business partner of Sater’s named Jody Kriss. This practice is all fine and well by itself, however the evidence from the earlier case had already been stricken by another judge. This may or may not have been uphill battle from the time it started, some people are inclined to believe. Sater and his representative Ralph wolf had very little to say about the case other than that it had been dismissed. The Attorney General Eric Schneiderman really had even less to say about the case other than that his office expressly did not stand behind it. Although the office did say that they would continue to monitor the case to protect the state’s interest, which works well enough for most people.
On the subject of the lawyers bringing the case before the Manhattan Court, Wolf says that the court just didn’t like the fundamentals of the preceding and that Oberlander and his co-counsel in the case Richard Lerner have been refer to the Department of Justice for some of their practices toward his client. Lerner has plans to appeal the decision himself, so there still maybe more to come on that front.
The original evidence that was dismissed in the first case is centers around not just Slater but his business Bayrock and his co-founder Tevfik Arif by Overlander and his once finance director Jody Kriss. In that case, the allegations made against Bayrock is that it is basically a front for organized crime, which involves racketeering embezzlement and other questionably legal business practices. Now, that case is moving forward as a charge of racketeering against Tevfik Arif Bayrock.
The problems and worries for one of that organization’s founders are really twofold, or at least he can look forward to a little bit of pad bad press for just a minute. It would appear that Sater conducted business with Donald Trump on a transaction but did not fully disclose about his past. And in an affidavit, the former businessman turned president, Donald Trump, states that he would have never worked with Sater had he known about his past.
The question as to how many or the nature of their business meetings is in debate. But it is clear that Sater at one time held a office two floors below Donald Trump the businessman. As for the question of whether Trump did have business meetings with Sater due to his Russian connection his answer is simple. President Trump says he would be crazy not to be interested in a market as hot as Russia right now.