(Stephen Jemal assumes the position for a Daily News writer. - Courtesy of Daily News)
The investment companies that fund the Jemal’s Brooklyn projects in Mill Basin, Gerritsen beach and Sheepshead Bay have filed a civil suit against Stephen S Jemal and Sharon E Jemal in Texas Northern District Court.
The companies “Gerritsen Beach Investments Ltd” and “Riviera Investments I Ltd” filed their complaint on 7/14/2008 the cause is stated as a “Contract Dispute“.
The plaintiffs claim that the Jemal’s (Stephen and Sharon) have not paid them back $5,580,000 plus interest. The Jemals are also allegedly also refusing to pay them back!
Both of the investment companies are being represented by Todd Hoodenpyle of Singer & Levick
What does this mean for his existing construction projects? Time will tell.
- Here is the Complaint that was filed in court [Warning PDF]
For anyone that picks this up in the media, it would be really nice to have a credit for breaking this story.
Updated: Below the Fold
Update from SBPBCivic.org who adds a bit more to his past:
The lawsuit, first uncovered by GerritsenBeach.net, seeks a judgment of over 5 million dollars from Stephen S. Jemal and Sharon Jemal for failure to pay back money lent in connection with real estate projects in Brooklyn.
Apparently, Mr. Jemal and his family – founders of the Wiz chain of electronic stores – are no strangers to less than reputable business practices, as SB/PBCA has uncovered other dealings by Mr. Jemal and members of his family that have led to governmental sanctions, and even a criminal trial and conviction.
In 2003, the Federal Trade Commission filed a complaint against Stephen Jemal and his brother Marvin, both individually and as a part of two New York-based companies that marketed devices that purported to block harmful radiation from cell phones or video display units (VDUs) alleging that the companies’ claims were “false and unsubstantiated” The FTC further alleged that the defendants claims that scientific testing proves that their devices work were also “false and unsubstantiated.” The defendants agreed to pay $85,000 for consumer redress.
We should note that such a stipulated final order is for settlement purposes only and does not constitute an admission by the defendants of a law violation.
CLICK HERE FOR MORE INFORMATION
In 2005, Douglas and Norman Jemal were indicted on charges of bribery, wire fraud and conspiracy, amidst allegations that Douglas Jemal, a well known Washington developer, bribed a city official to get sweetheart contracts and inflated profits at taxpayers’ expense. The defendants were only convicted on the wire fraud charge and served no jail time. The wire fraud charge stemmed from a document that Jemal and co-defendant Blake Esherick falsified and then used as a justification to get a mortgage company to release $430,000 in loan proceeds. The money went to a different business deal than the one specified in the mortgage.
Another Update: As of July 23rd SBPBCivic.org clarified the statements above to avoid a lawsuit. See:GerritsenBeach.net Attacked by SSJ Development and Jemal family?
A local developer who was recently touted by a local newspaper as re-energizing our local coastline is being sued by two Texas investment companies for alleged breaching its obligation to pay back a multi-million dollar loan. (Photo Courtesy of NY Daily News)
The lawsuit, first uncovered by GerritsenBeach.net, seeks a judgment of over 5 million dollars from Stephen S. Jemal and Sharon Jemal for failure to pay back money lent in connection with real estate projects in Brooklyn.
SB/PBCA has uncovered other information about Mr. Jemal’s past business ventures.
In 2003, the Federal Trade Commission filed a complaint against Stephen Jemal and his brother Marvin, both individually and as a part of two New York-based companies that marketed devices that purported to block harmful radiation from cell phones or video display units (VDUs) alleging that the companies’ claims were “false and unsubstantiated” The FTC further alleged that the defendants claims that scientific testing proves that their devices work were also “false and unsubstantiated.” The defendants agreed to pay $85,000 for consumer redress.
We should note that such a stipulated final order is for settlement purposes only and does not constitute an admission by the defendants of a law violation.
CLICK HERE FOR MORE INFORMATION
SB/PBCA has also found other information in its research. Although none of the following information concerns Mr. Jemal, his past business ventures, or his current real estate plans in any way, shape or form, SB/PBCA believes the following information may be useful to its membership.
CLICK HERE FOR MORE INFORMATION
SB/PBCA will continue to monitor the situation.
Will do.
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Clever, but I know you lie! :)
Wow, shocking breaking news, what r u waiting for GB, send it in to news12
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Todd Hoodenpyle is perhaps one of the funniest names ever. HAHAHA
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[...] the Denial of Service attack is targeting “Developer Stephen S. Jemal in $5.5 Million Dollar Contract Dispute with His Investment Companies“. and the PDF in the [...]
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Keep up the good work GB net. You are exposing dirt bags.
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[...] posted a story about Mr. Jemal being sued for alleged non-payment of a loan connected to his real estate projects in our area. I later posted a story about a “DoS Attack†[...]
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he looks like a skell
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assinine
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Did you really just post the same story again to get some more attention Randel?
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the story has been updated to put in the part about no admission of guilt in the cell phone case settlement
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Daily News page 28. Article about this subject,,,and a lesson to parents out there: Kid don’t take your shoes off! It’s not a beach.
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he looks like a big douche.
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Will Mr. Jemal sue the Daily News for reporting on your reporting…
Daily News:
http://www.nydailynews.com/ny_local/brooklyn/2008/07/24/2008-07-24_exwiz_big_fights_jabs_by_blogger.html
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check this out
http://www.nyc.gov/html/nypd/html/pr/pr_2002_139.shtml
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Keep up the good work, this guy feels because he has money he can do whatever he wants, like build half million dollar condo’s on top of a contaminated mess ( riveria’s). He does;nt have to clean it, the city does;nt have to clean it, the poor sap’s that buy the property will be stuck dealing with it 15 years from know. By the way you hurt my feelings and I am also suing you, please send me 100 gazillion bizillion dollars cash of course, and we will forget all about it. ( What nerve).
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i hope he doesn’t sell one apartment.he is destryoing our neighborhood.
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[...] you remember way back in July of 2008, we broke the original story that Lacon Ct and Knapp street developer Stephen S. Jemal got into a $5.5 million dollar contract dispute with [...]
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