Felix Sater, the Moscow-born dealmaker and former associate of Donald Trump, has lost a significant legal battle. Sater was accused of aiding a wealthy Kazakh individual in laundering millions of dollars through U.S. real estate, including properties in the Trump SoHo tower.
A federal jury in Manhattan delivered the verdict on Wednesday, ruling in favor of the city of Almaty, Kazakhstan, and one of the country’s largest lenders, BTA Bank. The jury awarded the plaintiffs more than $32 million in damages and interest. The legal representation for the plaintiffs was provided by Matthew L. Schwartz of Boies Schiller Flexner LLP.
Sater, who has denied any wrongdoing, has indicated that he plans to appeal the verdict. This case highlights the ongoing scrutiny of financial practices involving high-profile real estate transactions and international money laundering allegations.
For further details, read the original report on Bloomberg Law.