Former HFZ Capital exec Nir Meir is the one remaining goal for prosecutors in a sprawling $86 million fraud case, involving the XI rental undertaking on the Excessive Line.
In 2024, 9 defendants, together with Meir, had been indicted over allegations of fraudulent exercise linked with developer HFZ’s tasks. Seven reached plea offers with the district lawyer. At a quick court docket look on Wednesday in Decrease Manhattan, prosecutors weren’t in a position to safe a responsible plea from Meir. And, in accordance with prosecutors, they don’t anticipate to get one any time quickly.
“We’ve continued to have some discussions with counsel as as to whether it is a manner of resolving this wanting trial,” stated assistant district lawyer Christopher Beard at court docket. “I frankly don’t see that as a chance. I don’t suppose Mr. Meir has modified his place, regardless of diligent efforts by his lawyer.”
The Manhattan D.A.’s workplace is narrowing in on Meir after his unique co-defendants, Omnibuild’s former co-CEO John Mingione and accountant Kevin Stewart, pleaded guilty to a small function within the fraud on Monday. The entire different defendants — 5 people and three companies — within the alleged fraud have pleaded responsible or entered into deferred prosecution agreements.
Meir, who appeared on the courthouse sporting black pants and a sweatshirt, has pleaded not responsible. Prosecutors informed the court docket in February they had been at an impasse on a plea take care of Meir.
Meir’s lawyer, nevertheless, expressed optimism that the case could be resolved quickly.
“Mr. Meir is being pretty handled by each the Court docket and the District Lawyer’s workplace,” stated Stephen McCarthy, Meir’s prison protection lawyer in a press release. “The entire different charged people have efficiently resolved their circumstances. Mr. Meir is working towards a profitable decision as effectively.”
Meir’s path to decision will doubtless look a lot totally different than the opposite defendants. Notably, not one of the unique defendants obtained jail time.
Prosecutors regard Meir because the mastermind of the $86 million fraud. Meir confronted 4 separate indictments overlaying a litany of significant prices, together with grand larceny, conspiracy and tax fraud. (The D.A. filed a movement to consolidate these indictments into one.)
If discovered responsible at trial, Meir might probably face many years behind bars.
Prosecutors allege Meir diverted a whole lot of tens of millions of {dollars} out of HFZ’s luxurious actual property tasks to cowl shortfalls on different HFZ tasks, and at instances, to private accounts managed by HFZ executives. On the middle of the fraud was the XI, HFZ’s marquee rental undertaking. Prosecutors allege Meir directed $253 million designated for the undertaking to totally different LLCs managed by HFZ.
Meir was fired from HFZ in December 2020 in dramatic style. His former boss Ziel Feldman sued him, calling him a sociopath, alleging Meir diverted cash from HFZ to complement himself.
Meir departed for Miami and lived in a $150,000 per 30 days property in Miami Seashore, spending lavishly on sushi dinners and high-quality wine.
In February 2024, he was arrested on the One Resort in Miami Seashore and extradited to New York Metropolis. Unable to pay his $5 million bail, Meir was detained on Rikers for a few yr. His bail was lowered and Meir was launched in early 2025, solely to be sent back to Rikers and launched again.
Meir is now restricted to residence confinement in an residence in New York Metropolis. Sources say Meir resides in Brooklyn. On the look on Wednesday, Decide Ann Thompson granted Meir two hours of free time day-after-day, between 12 p.m. and a couple of p.m. As soon as a muscular and svelte developer, at court docket Meir solid a special bodily look. McCarthy hoped the free time would grant Meir the chance “to train — I believe that may profit him and the final word decision-making in our case.”
If Meir can’t attain a take care of the D.A., he’s anticipated to go to trial round September. A trial date can be set on the subsequent court docket look on July 1.
After the court docket proceedings ended Wednesday, Meir requested The Actual Deal to “lastly write objectively” about him.
At one level, Meir’s lawyer tried to interject. However Meir replied, it was OK.
“They used to glorify me,” stated Meir.
Learn extra
Omnibuild executives plead guilty to lesser charges in XI fraud scheme
Nir Meir, Manhattan DA are at an “impasse” on plea deal
Judge orders Nir Meir back to Rikers
