NY Developer Nir Meir Charged in $86M Fraud Scheme

Nir Meir, former HFZ Capital Group colleagues, and Omnibuild executives have been charged with grand larceny in a scheme that allegedly netted tens of millions of dollars. The Manhattan district attorney's office announced the charges as part of a criminal probe, accusing the individuals and companies of widespread fraud within the real estate industry. The defendants have pleaded not guilty, and the case involves allegations of falsified construction costs and stolen funds from investors, subcontractors, and the city. Meir, who declared bankruptcy in response to a civil judgment, was arrested in Miami and is facing extradition to New York.