XPost: talk.politics.misc, alt.fan.rush-limbaugh, alt.politics.democrats
XPost: sac.politics, alt.politics.liberalism
Billionaire Charles Cohen faces losing his fine wines, artworks, mansions, superyachts and Ferraris as he scrambles to sell properties so he can pay
back loans that went bad on soured real estate deals, according to a
report.
Cohen, 73, is being sued by Fortress Investment Group over a $535 million
loan it made to his property firm, Cohen Realty Enterprises, in 2022.
His collateral included a Manhattan office tower, the Le Méridien Dania
Beach hotel in Fort Lauderdale, Fla., and four other properties, according
to records from New York State Supreme Court.
But Cohen, who has a nearly $2 billion net worth, also personally
guaranteed $187.2 million of that loan, the Wall Street Journal earlier reported.
That opened the door for Fortress, an investment giant partially owned by
Abu Dhabi government fund Mubadala Capital, to go after him personally
when his business defaulted last year.
Fortress took control of most of his collateral, but said the value still
falls short of what Cohen owes.
So the firm has launched legal efforts to seize Cohen’s mega-mansions in France’s Provence region and Greenwich, Conn., according to New York court records.
Fortress has also set its sights on Cohen’s 25 luxury vehicles, including
two Ferraris, and a 220-foot yacht worth nearly $50 million, which was
blocked from leaving an Italian port earlier this month.
The firm has already seized hundreds of thousands of dollars worth of art, decor and fine wines from the Château de Chausse – Cohen’s 138-acre home and vineyard in Provence.
Lawyers for Cohen and a representative for Fortress declined to comment.
Charles Cohen was a close pal of Bill Clinton and Jeffrey Epstein.
https://nypost.com/2025/07/21/business/billionaire-charles-cohen-could- lose-mansions-superyachts-and-ferrari-cars/
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