Brooklyn, NY - Report: Murdered Brooklyn Landlord Took Millions From Business To Pay Debts
Brooklyn, NY - Troubled landlord Menachem Stark took out almost $3.6 million from his business to pay personal debts before his January death according to recent financial records.
NY Daily News (http://nydn.us/1l6WtsV ) reports the 39-year-old was in extreme debt when he disappeared in January. Financial records show that he used cashier’s checks to withdraw money from South Side Associates.
South Side borrowed the money from a bank to keep a Stark-owned Williamsburg property open during a bankruptcy proceeding.
South Side trustee Jonathan Flaxer said cashier’s checks obtained by Stark were marked “customer withdrawal.” Five customer withdrawals were taken out from the account – totaling $267,101.07 –during the month before Stark went missing and was murdered.
Over $1 million was withdrawn the month before that.
A total of $3.6 million was withdrawn between June of 2011 and December of 2013. Court filings say the missing money was not discovered until after Stark’s death because bank statements were tampered with to hide the withdrawals.
Flaxer’s court filing states he has received some of the cash back. He has requested a subpoena so he can review Stark’s emails and try to find out where some of the missing money went. A hearing is scheduled for Thursday.
Stark was abducted in Williamsburg on Jan. 2. His body was found on Long Island the next day. No arrests have been made so far, but police are focusing on a contractor whom Stark owed $20,000.
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