Omnibuild Construction News Today

Real estate developer Nir Meir and other industry executives were indicted for stealing $86 million from investors through a failed luxury apartment development.

Prominent New York real estate developer and former executive at HFZ Capital Group Nir Meir was charged with an alleged $86 million fraud that was carried out over several years. On February 7, 2024, Meir was indicted by the Manhattan District Attorney’s office for allegedly participating in a multi-million dollar fraud scheme during his time […]

Pioneer’s work at The XI was governed by eight contracts for labor or materials with a total base price of about $98 million, the lawsuit says. Prestige relied on “promises, representations and assurances” in agreements it signed with Omnibuild and HFZ to fund Pioneer’s work, but payments from the firms started to become “less prompt and less frequent” during the second half of 2019, and they began defaulting on payments altogether last December, the lawsuit says. The suit speci...