Jacob Frydman the current CEO of United Realty Trust Incorporated has a long history of corporate, and real estate failures.
Digging deeper one will find that each company was simply a vehicle for him to defaud the unsuspecting investor.
Click to see related info to the specifc Frydman Fraud and Failure.
Jacob Frydman found a way to take a company public giving him access to raise millions of dollars from the unsuspecting public. After a year or two of failure his ex-partner apparently figured out the story and resigned. Why he didn’t know from the get go is bizarre and a question onto itself.
Despite dozens of claims for Fraud, misappropriation of funds, unauthorized investor funds transfers, and even getting caught with “his hand in the cookie jar”, Jacob Frydman is still at the helm of this small yet public company.
As a public company, with persistence by the shareholders – Jacob Frydman can be stopped.
Jacob Frydman convinced Leonard Shaykin to be his “front man” in this One Billion dollar failed Infrastructure Fund called Lambdastar Infrastructure Fund LP. Either Frydman is a fool, or such a good con artist that in 2008 while the world was collapsing he was able to get him to believe that they can actually raise the One Billion Dollars.
Frydman then persuaded Blair and Company (a Chicago investment banking firm) to put up 6 million dollars to fund the startup costs of this fund. Frydman personally guaranteed 2 million out of the 6 million. Frydman then “raped the coffers of the company for his own benefit” / see lawsuit by his own former CFO.
The company failed. Frydman sued by Blair.
For a brief few month in 2013 Bull and Buddha was the new hotspot Frydman was going to cash in on……….except, if Jacob Frydman, the real estate developer cum restaurateur, and man behind Poughkeepsie’s recently opened Bull and Buddha were not a thief, he may have been successful.
For a moment (or 3 years of planning) Frydman thought he can bring a NYC like restaurant to a small town of 32,000 people. Frydman once again conned innocent people to invest in his failed venture he named Bull and Buddha but was again a quick failure. Here Frydman even screwed vendors like Coca Cola, and the nice Chef Sushi Master Makio Idesako as well, who quickly left and moved on. Frydman had his step son Alex Libin run the place. (wooo, luckily this planned restaurant chain didn’t go much past planning. It was going to be done in Albany amongst other locations.)
A write up or two made it to the local blogs of the failed Bull and Buddha.
Unfortunately even ex-Governors get conned by Jacob A Frydman. In this failed venture Frydman thought he can “take over” the Energy Industry by retrofitting cities nationwide with LED lighting.
Frydman still has not learned that one cannot be the Jack Of All Trades.
And so the company quickly failed in its RFP bids (Yonkers NY, and others), left huge unpaid bills all over town and as always lawsuits.
Jack of All Traded=Master of None
Although on its website it stated that “Hudson-York Capital is a privately held real estate development and investment firm that generates superior returns for its institutional and high net worth individual partners”, none of it was ever true.
Institutions did get scammed though, just read the lawsuits.
Yet another smokescreen, which Frydman tried unsuccessfully to do a handful of real estate deals through.
Surrey Equities has distanced themselves from Jacob Frydman of recent.
For many years Frydman touted his experience with shopping centers and the company he owns called Surrey Equities which has a large shopping center portfolio.
As with most of Frydmans properties these shopping centers went into foreclosure after Frydman figured out how to screw the lenders.
Unfortunately many investors got hurt on the way.
Another Major failure of the Frydmeister. Jacob Frydman via his White Acre facade tried to launch a 200 million dollar Student Housing Fund.
As with all Frydman projects, it was a scam and failure. It was a quick failure for that matter, However Frydman was able to convince a handful of people to invest and…………oh the money was spent on “Startup costs”. Well Frydman needed a salary and had to pay his personal bills with the company funds.
A typical day in the Frydman world of “I need to make a living so YOU need to “invest with me” so I can be paid for my ever so hard work”
The fraud and deceit by Jacob Frydman is endless here.
From screwing a charity not for profit in Virginia to hurting many elderly individuals in Florida, you would think this is all made up.
Court records and the press are there to prove it all.
What a free country we live in ! !
Frydman Beck King & Arad P.C. a defunct lawsfirm was the brainchild of
(well Frydman thinks it is ALL his brainchild) ….
The lawfirm was incorporrated in November of 1993 and officialy desolved in September of 1997.
Truth be told, Frydman did not last long with his partners and the firm was defunk way earlier.