On the eve of Clare Bronfman’s bail hearing, her lawyers have told the court they firmed up her financial collateral.
Bronfman was required to secure a $100 million bond, signed by her mother and brother-in-law, Basit Igtet, with $50 million in assets. Bronfman’s lawyers have been working with the prosecution to finalize documents necessary to secure government liens.
Some $25 million is secured by a letter from Goldman Sachs – on file with the court – as trustee of Clare’s trust, confirming that if her bail is revoked by the Court, the trustee would file instructions from the trust advisors to liquidate trust assets and transfer $25 million to the Clerk of the Eastern District of New York.
The remaining $25 million has been secured by real estate and a business.
The division is $8.1 million in equity in real estate owned Sara Bronfman-Igtet, $4.5 million in equity in real estate owned by Clare Bronfman, and a UCC-secured interest of $12,350,000 in Clare Bronfman’s company, ACK Wakaya Holdings LLC, which holds the business interests in the resort she owns in Fiji.
It is not known if Clare and Sara Bronfman-Igtet told the court about their millions in real estate holdings in Los Angeles County – which are currently up for sale.
I know about these since I recovered these assets for the Bronfman sisters when I got them controlling interest in Precision LLC in 2008. They may not have told the court about their Los Angeles real estate holdings since they may need to liquidate these properties [they are up for sale] to pay for the gaggle of 21 attorneys that are representing the various defendants in this case.
PRECISION PROPERTIES that I believe are still owned by the Bronfman sisters through Precision LLC or one of the shell companies owned by Bronfmans.
1. 4741 Libbit Ave., Encino, CA 91436
2. 13361 and 13349 Newcomb Ave., Sherman Oaks, CA 91423
3. 8209 and 8195 Lauremont, Los Angeles, CA 90046
4. 3769 and 3761 Avenida del Sol, Studio City, CA 91604
5. 22568 and 22574 W. Uhea Rd, Woodland Hills, CA
6. 4260 and 4180 Natoma Ave, Woodland Hills, CA 91364
7. 3800 Oakfield, Sherman Oaks, CA 91423
8. 1700 Viewmont, Los Angeles, CA 90069
9. 9812 Wanda Park, Beverly Hills, CA 90210
10. 8517 W. Franklin, tos Angeles, CA
11. 4220 N. Gentry, Studio City, CA 91604
12. 4001 Sumac Dr., Sherman Oaks, CA 91403
13. 2526 Benedict Cyn, Beverly Hills, CA 90210
14. 5898 Lorae, Los Angeles, CA 90068
15. 12212, 12218 and 12226 Laurel Terrace, Studio City, CA
16. 39920 Knobhill, Sherman Oaks, CA 91423
17. Vacant lots on Avenida del Sol, Studio City, CA; APN 2384-015-021, APN 2384-015-022
18. Vacant lot on Meadow Bay Drive, Lake Arrowhead, CA 92352, APN 0333-052-19
19. Property in Beverly Hills, California, APN 4382-001-34; 4382-001-35
Instead of any of the valuable Los Angeles properties, the less valuable Albany area properties are being pledged by Bronfmans.
Total Value of Sara Bronfman Interest in Real Estate $ 8,135,000
Total Value of Clare Bronfman Interest in Real Estate $4,515,000
Total Value of Real Estate $ 12,650,000
ACK Wakaya Holdings LLC Clare Bronfman $ 12,350,000
Total Value of Secured Assets $ 25,000,000
See the entire letter of Susan Necheles to Judge Giraufis: https://frankreport.com/wp-content/uploads/2018/08/2018-08-20-Letter-Motion-To-Modify-Terms-Of-release-For-Clare-Bronfman.pdf
Did Clare Bear sale her horse farm in New York? It’s not listed either.
Hats off to Frank for exposing this attempted fraud against the justice system!
It’s apparent Frank may have made a personal sacrifice for the NXIVM victims in doing — if one looks into the details. I was a reporter covering the 2011 “Bronfman v. Plyam” trial so I know the deets:
After being retained to help manage NXIVM’s bad press in 2008, starting with their bad business practices, Frank found the Bronfman’s were being ripped off on these LA real estate and other Vanfraud ventures. He investigated, retained counsel in LA and put the lis pendance on the properties that were ultimately recovered through the litigation —using the results of Frank’s investigation and excellent counsel he’d retained for them, Latham & Watkins.
Bronfman’s promised Frank a percentage commission for this effort that amounted to $1 million after he recovered the properties plus another $11 million in damages for the Bronfmans. This was the first and ONLY legal victory ever won for the Bronfman’s in all their ensueing years with NXIVM. But Vanfraud couldn’t bear to share the victory or its fruits and convinced the Bronfmans to punish Frank after his commission was paid out. Using their political clout and other corrupt NXIVM methods, including perjury, they had Frank indicted and he was forced to surrender the million he’d well earned to the Feds in NY state’s infamously corrupt Western District. It nearly ruined his life but Frank fought back with the mighty power of the pen!
Now, after spending thousands of hours literally writing for his life and hundreds of thousands on his defense, Frank stands to perhaps finally recoupe that money he was wrongly accused of stealing. Instead, Frank has apparently chosen here to help see that those funds are reserved to potentially help other NXIVM victims and the Eastern NY district prosecutors dedicated to that effort and to stopping this scourge on society and the justice system!
NXIVM even attempted to have Frank’s 92-year old father, a respected attorney, disbarred!
Pray that the Parlato family’s personal sacrifices will at least be rewarded with the restoration of their good name.
The pen is mightier than the sword, after all!
Are we living in a police state ? Why should Clare reveal all her assets? She have enough to make bail. That’s it. The Los Angeles properties are needed for her defense. Does no one believe in due process ?
No mention of any money squirreled away off shore in secret bank accounts.
Weren’t there rumors of Bronfman jets flying from Teterboro Airport in New Jersey and Miami to the Bahamas?
“there is no suggestion that she ever took any action against any adverse party, except through lawyers, and within the bounds of the law. ”
Since when is perjury within the bounds of the law ??
Also, “numerous courts have found in favor of NXIVM or Ms. Bronfman”…
The lawsuits she have funded are way more vindictive than a simple legal dispute, as well as the phony indictments both attempted and borderline successful.
I could keep going, but sleep is more important than reading this drivel.
Wow! What a scoop, Frank!
It IS highly suspicious that none of these properties were pledged!
It’s understandable that the Figi (aka NXIVM fugitive sanctuary) Island properties were not initially counted in — as those were “under renovation” and all — but what’s the excuse for leaving off 15 prime LA estates worth far more — maybe 3 times the amount altogether — than those piddling ones filed in the pleading listing alleged assets (sans Figi)?
Perhaps, as Frank insinuates, the LAWYERS are reserving these primo properties to themselves to pay their fees! Or were their clients by any chance fibbing and omitting?
Curious to know if the Bronfman’s asset managers at Goldman Sachs, who arranged those cute, little trust funds (to try to sheild Bronf Brat ass-ettes) have a hand in this perjury.
21 attorneys need to be promptly sanctioned for starters if there’s any justice here for the public and NXIVM victims!