Overview

• Nir Meir, a former executive at HFZ Capital Group, has been indicted for orchestrating an $86M fraud scheme, affecting investors, subcontractors, and New York City.
• Meir and accomplices allegedly diverted funds from a luxury Manhattan condo project, leading to its foreclosure and financial collapse of HFZ.
• The scheme involved inflating invoices, forging bank statements, and misappropriating funds for unrelated projects.
• Meir was arrested in Miami Beach and is being extradited to New York, while all defendants have pleaded not guilty.
• The case highlights widespread fraud within the real estate industry, with Manhattan DA Bragg emphasizing the impact on investors and the market.