This video basically recreates the construction process photos I posted above
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People were very polarized about this building.
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https://www.sfchronicle.com/realestate/article/transamerica-pyramid-shvo-rico-lawsuit-21169059.php
Marc Kasowitz, the attorney representing the club, told the Chronicle in a statement that Shvo, “financed” by BVK, has “perpetrated a massive fraud, seeking to enrich himself and his partners by exploiting and manipulating CORE, an internationally renowned, exclusive private club, and has caused CORE tens of millions of dollars in damages.”
“The Shvo-BVK organization constitutes an illegal enterprise in violation of the federal RICO statute, which we will prove in court,” Kasowitz said.
Do they think it’s a pyramid scheme LOL?
CORE alleged in the amended complaint that BSD Partnership was used to “lure investors, condo purchasers, tenants, and business partners into multi-million dollar transactions,” and that the proceeds of those deals were “diverted to enrich Shvo and his associates, and to fund their lavish lifestyles.” As a result, projects that the joint venture took on — such as 711 Fifth Ave., the former Coca Cola building in New York City, and the Mandarin Oriental Residences, a luxury condo building in Miami — were left “underfunded and unfinished,” per the complaint.
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Nice one.
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