Overview

• Pressman’s amended lawsuit was unsealed this month, naming him under the New York False Claims Act and seeking to recover misdeclared taxes on behalf of the state.
• The complaint alleges that from mid-2021 siblings and their mother used false documents to claim Phyllis Pressman was a Florida resident despite her permanent Southampton home since 2018.
• Defendants face potential liability of roughly $50 million in unpaid income and estate taxes with treble damages under state law, and Bob Pressman could receive up to 30 percent of any recovery as a whistleblower.
• Phyllis Pressman’s estate comprises over $100 million in assets, including a $38.5 million Hamptons mansion, a Manhattan apartment under contract, and high-value jewelry and artwork scheduled for auction.
• The case is set to move into discovery and could influence future False Claims Act recoveries after New York has recouped $674 million under the law since 2010.