Get a *really* good lawyer who names everybody

From today's article in AdvisorHub (newsletter for financial advisors), talking about PH1 @ Walker Tower: "A Morgan Stanley wealth manager can keep a luxury Manhattan penthouse he picked up at a discount after it was seized as part of the 1MDB money-laundering scandal. "The US Marshals Services sold the confiscated Walker Tower condo in Chelsea to Ron Vinder for $18.25 million in 2020. That set... [more]

From today's article in AdvisorHub (newsletter for financial advisors), talking about PH1 @ Walker Tower: "A Morgan Stanley wealth manager can keep a luxury Manhattan penthouse he picked up at a discount after it was seized as part of the 1MDB money-laundering scandal. "The US Marshals Services sold the confiscated Walker Tower condo in Chelsea to Ron Vinder for $18.25 million in 2020. That set off a battle with the tower’s condo board, which voted to void the sale and sued to eject Vinder and his family from the building. "Vinder is a private wealth broker in New York City who leads an eponymous five-person practice. He managed $3.7 billion in assets as of April, according to Forbes, which ranked him at #32 on its list of the top 100 brokers in the country last year. "The US seized more than $1 billion in assets tied to the 1MDB scandal. The Malaysian fund that was created to promote economic development was looted of more than $4.5 billion, with high-level officials using the money to buy real estate and other luxuries and even invest in Hollywood films. "The Walker Tower board claimed its bylaws gave it the right of first refusal on any condo sale in the building. It also claimed the unit was sold at a 64% discount. "New York Superior Court Justice Paul Goetz dismissed the condo board’s complaint on Friday. He concluded that it was flawed because it didn’t include the US government as one of the parties. Naming the government was necessary because it had a stake in the case as it would once again be the condo’s owner if Vinder were evicted, he said. [less]